Aussies Wake Up ~ Big Oil & Gas Takes it All ~ Beds, Curtains, Kitchen Sinks & Toilets Too!
Konrad Benjamin ~ Punter Politics Creator ~ Broadcasting to Everyday Aussies how Big Oil & Gas Plunder Australian Resources as Our Own Politicians Let Them!
The Middle East War has suddenly put the Spotlights upon the Piracy & Plunder happening right under our noses ~ World Class Resources being Shipped Offshore for Peanuts!
Source: Konrad Benjamin uncovers the powerful Oil & Gas Lobbyists at work in Canberra.
In the recent Senate Inquiry, executive director of the Australia Institute, Richard Denniss, states, «the Japanese government is getting more revenue from taxing Australian gas than the Australian government is.»
You read this correctly;
«The Japanese government is getting more revenue from taxing Australian gas than our Australian government!»
Adding more clarity and endorsement for legislation to ensure that Big Oil & Gas PAY for our resources, is this analysis from Ken Henry, former Treasury Secretary.
In this 2022 report by Callum Foote of Michael West Media, we learn that while mining company tax payments were in fact made, much of this money was refunded via the GST Refund System;
« The Minister for Energy, Madeline King, has repeated claims from mining lobby group, Minerals Council of Australia, that the mining industry made payments of $43.2 billion in company tax and royalties to Australian governments in in a speech given at the NT Resources Week conference.
The figures were repeated on ABC Radio without question.»« As revealed here last year, Big Four consulting firm Deloitte used to do the misleading report for the mining lobby. This year it is another Big Four firm, Ernst & Young.
The EY report, has – like Deloitte’s previous work – failed to disclose that up to 60% of the tax that they claim the mining industry pays - is returned in the form of GST refunds.»« They have included GST paid, but not refunded, which is massively misleading.
The false claims come at a critical time for the mining and energy sectors which are reaping record profits, partially at the expense of energy customers, and the minerals lobby is threatening a public campaign against the government if efforts are made to increase taxes and royalties.»
Source: michael west media ~ the great gst hornbag
Australia ~ Following the UK to Resource Ruin
Once-upon-a-time the UK discovered North Sea Oil & Gas. Instead of ensuring that British citizens retained Government control over their own resources, they PRIVATISED the entire process.
Asking this question: « Synopsis of the marvel of UK North Sea Oil and Gas,»
AI generates this result;
The Bottom Line = « Unlike Norway’s sovereign wealth fund, the UK chose to Privatise, with a 1982 Act aimed at reducing state control ….etc!»
Source: youtube ~ why norway became rich from oil but the UK lost out
The financial data table below shows the total revenue from Shell Australia
2014 - 2024 is, in round figures $112.2 BILLION.
This equates to $112.2 BILLION revenue with Tax Paid = $3.78 BILLION.
Resulting in effectively a 3.36% Tax rate over 10 years…
Source: michael west media ~ shell australia financial data 2014 - 2024
How Shell Australia Uses Singapore to Reduce ATO Payments
This ABC News reports how Shell Australia sells discount priced oil to its Shell Singapore Entity, which then on-sells this same oil to Overseas buyers at a Mark-up price. Shell effectively shifts its Aussie Oil profits Overseas.
The ATO is aware of this situation = so is the Australian Govt = But it Does Nothing!