Australia's largest stock trading and investment forum Australia's #1 stock forum

With this pricing mechanism, Big Oil can minimise its Aussie Tax...

First 85 Last

Share
Profile

Follow
moorookamick

22,749 Posts.

769

18/02/18

09:04

Post #: 31135126
Share

Originally posted by moorookamick ↑

The price of pe

The price of petrol was set by the Howard Government back in 1997 at the request of BIG Oil by tying it to the Singaporean
refinery wholesale price with add ons for transport etc etc. This was payback to the multinationals for their help in getting
Howard/Costello elected. BIG oil wanted this formula because it is outside the jurisdiction of the ACCC and can be manipulated
via their two main refineries in Singapore. Since then Big Oil has closed down most of its Aussie oil refineries.

Expand

With this pricing mechanism, Big Oil can minimise its Aussie Tax in the same way as BHP & RIO minimise their Aussie Tax
by dealing through the Singapore Hub. Its all about money and who is stupid...eh?
1 Upvote

Reply

Top Stories

YAL

Yancoal makes it into the ASX200 in latest S&P rebalance

CBL

Control Bionics expands into UK and Irish markets with NeuroNode device

CNB

Carnaby Resources hits copper at Mohawk, QLD

GDC

Global Data Centres not clear on future operations after AirTrunk sale payout

RMX

Red Mountain Mining: record gold prices, two projects, two greenstone belts

There are more pages in this discussion • 7 more messages in this thread...

First 85 Last