Companies such as RIO, BHP & FMC stand to make trillions in profit over the next 50 years and it is about time that we review the current royalty regimes so that the average Aussie gets a fair shake of the sauce bottle.
We have to consider what resource rich countries like Norway & Saudi Arabia are doing for their citizens in fairly distributing resource wealth to all.I know that the Neo-Liberal conservatives ( low tax/small government) advocates will cry wolf but before you do , please consider the following:
Suppose we apply the "self interest" mantra of multinationals such as BHP. RIO & Glencore to the ownership of our resources. Lets suppose that BHP owned all the iron ore in the ground in WA & that Glencore owned all te coal in the ground in Queensland. Just now think for a moment.........
Do you think that the royalty rates would be between 5% & 7%?
Pigs ass!
They would jack up the royalty rates to the maximum so that the miners would be just marginally profitable; enough to keep them alive.
Is WA & Qld Governments doing that now and if not, why not? Surely if its good enough for the goose, its good enough for the gander.
Just have a read of the current marketing textbooks in resource management and you'll clearly see what marketing mix means and how optimumprofit can be sustainably engineered
.86%* of our mines are foreign owned and in these trying Trump times, dont you think it is an honourable Aussie patriotic goal to put Australia & Australians first; not Multinationals' self interest.Before rubbishing the idea, just have a squizz at the resource economic management regimes of Norway & Saudi Arabia.
Why dont we import them; we just about import everything else!
*Latest study by the Australian Institute indicates that 86% of "our" mines are foreign owned ! Hows That!!!
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- UP the coal royalties and fairly distribute:
UP the coal royalties and fairly distribute:
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