A “Gas-fired robbery” report has been released by the Australia Institute revealing that the operators of Australia’s giant offshore gasfields are paying next to no royalties. On top of this outrageous situation is the added unfavourable news that very few jobs have been created because of these gasfield operations.
One must surely question why industry behemoths like Woodside and Chevron are allowed to walk away with billions of dollars made from a bounty that belongs to ALL Australians while contributing so little in royalties and tax. The exploiting companies argue that they contribute in “other” ways, such as contracts for Australian businesses and jobs, but that is actually for the companies benefit as much as anyone else!
This is a situation that must be rectified.
For previous ‘Rockflat’ information on royalties and exploitation, there is an essay on this website titled “THE MINING INDUSTRY HAS BEEN GOOD FOR AUSTRALIA, BUT IT COULD HAVE BEEN SO MUCH BETTER!” – click this title to link.
There will be a further essay coming soon to ‘Rockflat’ on the shortcomings of our government to collect fair royalties and tax from these precious and depleting resources.
Sources: The Australia Institute | The Guardian