why the resource super profits tax is fair, page-7

how is using the risk free bond rate as the benchmark rate of return reasonable, given the substantial risks that must be overcome to get a project from exploration --> production? this tax is going to make capital for new projects much harder to attract, be it from overseas investors or domestic, why bother investing in this sector when massive rates of return can be reaped from other sectors not subject to this tax (eg the big 4 banks, the big 2 retailers).

it totally skews the risk/reward, if they want to apply this punitive tax to redistribute wealth the rate of return at which this "super" profit tax kicks in should be much higher and the tax rate should be much lower. Frankly I have no faith they are capable of using the extra revenue responsibly.