No wonder they are reticent and guarded in announcing the $20b.
Interestingly this move will exacerbate the issue of non renewable price spiralling and actually assist existing producers like Woodside & Santos by reducing the forward drilling & exploration look ahead.
they just don’t get it and see it as a vote getter - not to mention a grubby tax grab that won’t get widespread criticism.
the investment thesis for responsible producers just gets stronger & stronger.
DYOR
Government poised to tap $3b more from fossil fuel super profits, page-3
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