Australia the clever country shows how it's done. Giving it away for free.

[Glass]

Extremely resource rich country. Often calls itself the clever country or the lucky country. Billions of dollars secreted away in "unavailable revenue" accounts in thousands of municipalities and quasi corporate structures masquerading as government departments. Each year an amount of money that is many multiples of what it costs to run the country, pay all expenses including new infrastructures, all health and social costs is pilfered instead of being distributed to the people.

The latest one is Natural Gas. Australia has the largest natural gas output in the world now. Qatar is still slightly ahead in production but Australia will over take them shortly and leave them in the dust.

Australia earns no money from it's natural gas and will not receive any money from it's natural gas for at least the next 20 years. By that time it's likely the natural gas reserves will be exhausted.

Australians will pay the companies that exploit the gas reserves the full cost of building all of their production infrastructure plus an additional 50% of their costs for the next 2 decades. This amounts to $187, 000, 000, 000.00 that Australians will pay in return for nothing.

Australians will not even get any Gas from that. They will have to buy all of their gas on the world market at world market prices. So they will be buying their gas from the companies that they gave the gas to + 50% at 100% market price.

In addition to this Australia allowed those companies to buy and manufacture all of their equipment and infrastructure from other Countries. This resulted in no work for Australian manufacturing.

In addition to that Australia allowed companies involved in the projects to import low paid 3rd world workers into Australia to perform work done here on the basis that there were no people in Australia qualified to do the work.

Now that the people of Australia have been told what was done to them, the people who set up these arrangements are going to perform an investigation of themselves so that they can say they made a whoopsie and to see if they can claw back some token concessions through long winded expensive civil litigation.

Of course this will further increase the costs for the Australian people while enriching others.
http://www.theage.com.au/federal-politics/political-news/government-launches-inquiry-into-missing-tax-billions-from-oil-and-gas-sector-20161130-gt0jhg.html

On another note the Government was hoping to charge backpackers a tax for coming to Australia. Unfortunately that too failed.

[cheka.]

uber mindfck that skype have convinced enough people that they and theirs should be able to sell people things that they already own. free trade bitchez

end the fed

[cheka.]

aus is largest gas producer in world?? other countries making that claim too....rather curious

[Glass]

aus is largest gas producer in world?? other countries making that claim too....rather curious

Current output vs Reserves. I think other countries have more proven reserves but not current production. It might even be exports vs production vs reserves.

The UK had massive output from the North Sea which I believe is all gone now. And it didn't much good for them either.

[Glass]

To clarify

a $200 billion infrastructure investment that will propel Australia past Qatar to become the world's biggest gas exporter within five years.

But whereas Qatar enforces a stringent royalty payment based on output, the mounting evidence is that Australia is all but giving away the world's richest reserves of LNG for the profit of shareholders in New York, London and other corners of the globe.


Offshore LNG pays no state-based royalties like those on iron ore and coal. The only charge it pays the public for extracting a resource owned by 24 million-odd Australians is the super profits-based, petroleum resource rent tax.

In November, Fairfax Media revealed evidence that PRRT receipts were in freefall and any meaningful contribution from the industry could be decades away, according to briefings to the government of Western Australia.


LNG revenue was set to mushroom from $5 billion to $60 billion over a decade but PRRT returns would sink from a paltry $1.2 billion to a frankly embarrassing $800 million.

Currently, the only PRRT payments are coming from mature oil rig operations in Bass Strait.

Effectively, Australia is giving away 85.5 million tonnes of LNG a year for free. Well, to be sold by fossil fuel companies to Japan, Korea and China.

Apparently something will be done......

At long last, the industry has been put on notice.

http://www.theage.com.au/federal-politics/political-opinion/finally-our-politicians-notice-the-potential-multibillion-budget-fix-sitting-off-our-coast-20161130-gt0ypt.html

[palani]

Government was hoping to charge backpackers a tax for coming to Australia. Unfortunately that too failed.
Consider government to be the current franchisee for all things commercial on the continent known by that name.

We hope they succeed but have no irons in the fire should they fail.

This statement is true of most phantasms.

The topic begs the question of who actually do have irons in the fire.

This question has an answer:

ZOMBIES

This population can be divided into two classes. One class consists of those who have gone bankrupt. The second class is composed of those about to go bankrupt.

The first class can be typified by behavior that shows their entire hope and desire is to return to the second class. The second class can be typified by behavior that shows they are terrified of becoming zombies of the first class.

There is possibly a third class of zombie that must be considered. He is one that is not bankrupt and will not go bankrupt because he is willing to become a politician.

[osoab]

The gas will be back in another 20 years.

[Glass]

Amazing Coincidence?


Alcoa plant in Portland may never reopen after power failure

The far-west Victorian city of Portland is in shock after a catastrophic power failure plunged the future of its biggest employer, Alcoa, into jeopardy.

More than half the Portland Aluminium plant's smelting capacity has been seriously damaged as the company investigates what can be saved amid fears the plant may never reopen.

Alcoa - which is Victoria's largest single exporter - directly employs about 680 full-time staff and contractors at Portland, a city of only around 10,000 people. Around 2000 jobs rely on the operation.

The power supply to the huge complex went out for more than five hours on Wednesday night, causing molten aluminium in more than 200 smelting pots to cool and solidify.

This crippled an entire "pot-line" in the smelter, which runs two such potlines to smelt aluminium.

The other has been working on limited capacity for some time, and had only about 100 pots operating. Alcoa has closed both operations as it works to stabilise the second pot line and investigates the damage to the first.


The coincidence is that for 30 years Alcoa has been getting almost free electricity BUT on October 31 that sweetheart deal ended and Alcoa was negotiating a new contract. Low and behold the supply company took one of the 2 supply feeds off line for maintenance and wouldn't you know it the other supply line failed at the exact same time.


Alcoa's director of corporate affairs, Brian Doy, said the crisis could not have come at a worse time.

Alcoa is facing significantly higher operating costs as it negotiates a new electricity supply contract with AGL Loy Yang.

Its previous contract, negotiated with the state-owned SECV in the 1980s and considered one of the most generous industrial power-supply deals in the nation, wound up on October 31.

Mr Doy said Wednesday night's occurrence was "certainly the worst incident" at Portland Aluminium that he could recall.He said it was too early to predict what the future held, and whether or when the plant could be returned to production.

"No decisions can be made until investigations are complete," he said.
http://www.theage.com.au/victoria/fears-crippled-alcoa-plant-in-portland-may-never-reopen-after-power-failure-20161202-gt2lc1.html

So now the Government is going to have to Bail Out poor old Alcoa and help them get their factory back on line. This is the same company that was given the go ahead to dump their sodium fluoride into the water supplies around the country in the 1970's. And they actually get paid for that fluoride because it's good for your teef.

[Neuro]

Amazing Coincidence?



The coincidence is that for 30 years Alcoa has been getting almost free electricity BUT on October 31 that sweetheart deal ended and Alcoa was negotiating a new contract. Low and behold the supply company took one of the 2 supply feeds off line for maintenance and wouldn't you know it the other supply line failed at the exact same time.


http://www.theage.com.au/victoria/fears-crippled-alcoa-plant-in-portland-may-never-reopen-after-power-failure-20161202-gt2lc1.html

So now the Government is going to have to Bail Out poor old Alcoa and help them get their factory back on line. This is the same company that was given the go ahead to dump their sodium fluoride into the water supplies around the country in the 1970's. And they actually get paid for that fluoride because it's good for your teef.

I believe it is spelled "Thief"

[palani]

now the Government is going to have to Bail Out poor old Alcoa

Perhaps you need to research Alcoa? It is now 'Arconic'. Don't know if Alcoa exists at all anymore.


Arconic is built on an extraordinary heritage of innovation that began with Alcoa’s founding in 1888. Our businesses have helped shape the aerospace, automotive and building and construction industries since the days of the Wright brothers and Henry Ford, and the first modern downtowns. On November 1, 2016, Arconic launched as a global leader in multi-material, precision-engineered products and solutions for high-growth markets, following our successful separation from Alcoa’s bauxite, alumina and aluminium products units. Today we continue to build on more than a century of innovation to help transform the way we fly, drive, build and power.

http://www.arconic.com/global/en/who-we-are/history.asp

A practical maxim is:

WHEN THE GOING GETS TOUGH THE TOUGH JUST CHANGE THEIR NAME

[Glass]

yes or move to a better tax jurisdiction. I'm confident I can fill many pages with tales of stupid but it wouldn't be fair on our glorious host to have their funds consumed in paying to host it all.

I could blog it I guess but then humans have an inexhaustible supply of stupid and there isn't enough time in any one life to take note of it all.

It does seem to be the easiest way to get rich though..... selling stupid. Ready made market, inexhaustible supply.