henry review at a glance, page-128

This may or may not be the best policy, but in fairness we do at least need policy.

Norway's oil industry doesn't seem to be a dead goose and they certainly extract a large tax from oil.

ref. http://www.norway.org.uk/ARKIV/Other/Current-Affairs/business/news/norwayahavenforoilproduction/

In Norway, oil firms pay corporation tax at 28%, as well as a special tax of 50% on oil profits. Taken together this means the tax on oil profits is 78%, one of the highest tax rates in the world.


One must remember that when we dig up bits of Australia and sell them - we are in fact digging up things that EVERY Australian owns.

It is a privilege to dig things up - NOT a right.

have a good day Pinto (mining shareholder)