$789 per Australian per Year to Subsidise Fossil Fuels

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Power Raid

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do you really want to post misleading and deceptive tweets? or do you want to be called out for being a rock melon and posted s**t without thinking?


Please do some research on the numbers and correct yourself and apologise for posting misleading and deceptive crap. Hints: "revenue" vs "profit" and "states" vs "federal"

on a previous analysis Australia takes in $5B-8B per annum for zero risk whilst Qatar in a good year takes in $11B for 100% risk


but please put down your bong and do your own research
 

Power Raid

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Interestingly Norway has a trillion in its sovereign fund

and australia has how much in superannuation?
and australian's wealth per person is?
and australia's education outcomes from the taxes collected?


both nations are doing well though
 

QuietB

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Lol… coal, iron ore, gold, …. Australias resources dwarf Norways… but its not owned by the people like in Norway … it’s owned by Fat campaigners like Clive and Gina
Australian resources are actually mostly owned by foreign interests.
 

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kranky al

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I would rather keep the 5 day work week and have 6 weeks extra annual leave personally. These 4 day work week types never consider that people may not want 4 day work weeks. They want more leave.
I think if you put it to a vote a vast majority would go for 4 days.

I hated going from mining to mon-fri - 2 days isnt enough.



Now i work for myself i go for however long straight days in a row then take a week off. Never wanna do 5/2 again.


Worked 4/3 at barrick and it was bloody brilliant
 

Power Raid

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Interestingly Norway has a trillion in its sovereign fund

despite Norway being very successful, their wealth is much much less than ours per person (only 25% of the wealth of an Australian).

further norway's national fund looks impressive at $1.4 trillion but then you have to consider Australia's fund industry at $3.4 trillion.

norway's fund has 2% of the world's stocks but Australia has 5%

The major difference is Australia's scheme is sustainable as it is broad based but Norway's scheme is NOT SUSTAINABLE as it is reliant on fossil fuels where ours is broad based and not exposed to operating risk.



both systems are great, both countries are great but would you really prefer the unsustainable "Oil Fund" over Australia's sustainable system?
 

Power Raid

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no apology yet for spreading lies? perhaps you should tweet and call out the senator for misleading you, if in the case it was an honest mistake by yourself.

the $26B royalty for qatar isn't a royalty but 100% of revenue, dressed up as a royalty by con merchants. The simple smell test is.........as you would know, state owned enterprises do not pay royalties.

but let's run with it..............thus on the same basis Australia generate $29B in "royalties"


care to put your hand up?
 
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Number37

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The major difference is Australia's scheme is sustainable as it is broad based but Norway's scheme is NOT SUSTAINABLE as it is reliant on fossil fuels where ours is broad based and not exposed to operating risk.

You're making s**t up again.
Looks like a well diversified portfolio.

1650369293330.png
 

nut

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despite Norway being very successful, their wealth is much much less than ours per person (only 25% of the wealth of an Australian).

further norway's national fund looks impressive at $1.4 trillion but then you have to consider Australia's fund industry at $3.4 trillion.

norway's fund has 2% of the world's stocks but Australia has 5%

The major difference is Australia's scheme is sustainable as it is broad based but Norway's scheme is NOT SUSTAINABLE as it is reliant on fossil fuels where ours is broad based and not exposed to operating risk.



both systems are great, both countries are great but would you really prefer the unsustainable "Oil Fund" over Australia's sustainable system?

Explain how a 1.4 trillion dollar fund invested all over the planet is reliant on fossil fuel?
Tell me how much of the profits from the fund is used as government revenue …. I’ll be patient
 

Number37

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can you respond with something relevant to my post? or not quote my post?

Soz.
You're saying things other than the things you said, again.

BTW, it's been like 3 years since that soon to be launched not to be missed opportunity to get rich quick. I haven't heard nothin' or was it Angus Taylor selling water that didn't exist?
 

Power Raid

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Soz.
You're saying things other than the things you said, again.

you posted crap about a portfolio but quoted the section of my post about the sustainability of the fund and the reliance on oil revenues

alternatively please provide the portfolio investment of Australia's superannuation schemes


BTW, it's been like 3 years since that soon to be launched not to be missed opportunity to get rich quick. I haven't heard nothin' or was it Angus Taylor selling water that didn't exist?

what are you banging on about now?

is this your missed opportunity to make 5 times you money on MYR? or was it qantas? or was it village roadshow?

or are you referring to something else?
 

Power Raid

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Explain how a 1.4 trillion dollar fund invested all over the planet is reliant on fossil fuel?
Tell me how much of the profits from the fund is used as government revenue …. I’ll be patient

simple...............as it was built on the back of oil and gas revenues

where australia's superannuation is built on the back of the broad base of the entire economy


both are successful nations
 

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Number37

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you posted crap about a portfolio but quoted the section of my post about the sustainability of the fund and the reliance on oil revenues

alternatively please provide the portfolio investment of Australia's superannuation schemes


Another clueless moronic post.
They've factored in 50 more years of oil/gas revenue.

1650411075902.png


And legislated the "Fiscal Rule" to ensure the long term sustainability of the fund BEYOND the time when oil/gas revenues dry up.
1650411157447.png
 

Power Raid

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Another clueless moronic post.
They've factored in 50 more years of oil/gas revenue.

View attachment 1378705

And legislated the "Fiscal Rule" to ensure the long term sustainability of the fund BEYOND the time when oil/gas revenues dry up.
View attachment 1378706

so you've just posted support for my statement?

do you even know what you're arguing about or are you just arguing?
 

Number37

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so you've just posted support for my statement?

do you even know what you're arguing about or are you just arguing?

Hey peanut, this is what you said.

.... Norway's scheme is NOT SUSTAINABLE as it is reliant on fossil fuels ...


Which part of... they've factored in an end to fossil fuel revenue by legislating how much they spend each year... don't you understand?
Sounds like textbook sustainability.

The fund made $90bn last FY. Projected to earn ~$50bn a year from now to eternity.
Fiscal Rule limits their outgoungs to ~$30bn a year.
Doesn't take a maths genius to know 50>30.

Only PowerRaid-onomics would say 50>30 isn't sustainable.
 

Power Raid

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Hey peanut, this is what you said.




Which part of... they've factored in an end to fossil fuel revenue by legislating how much they spend each year... don't you understand?
Sounds like textbook sustainability.

The fund made $90bn last FY. Projected to earn ~$50bn a year from now to eternity.
Fiscal Rule limits their outgoungs to ~$30bn a year.
Doesn't take a maths genius to know 50>30.

Only PowerRaid-onomics would say 50>30 isn't sustainable.

and what did i compare it to and what is its base/ source of funds?

it seems you're getting emotional, as you are arguing with yourself and only supporting what I have said.
 

Number37

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and what did i compare it to and what is its base/ source of funds?

it seems you're getting emotional, as you are arguing with yourself and only supporting what I have said.

Yeah I'm supporting your unsupported PowerRaidonomics "it's not sustainable" with evidence that "it is sustainable".
If that's an emotional argument then what is your up is down argument?
 

nut

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simple...............as it was built on the back of oil and gas revenues

where australia's superannuation is built on the back of the broad base of the entire economy


both are successful nations

How is it not sustainable???????? How much is used as government expenditure?
You just make stuff up
 

nut

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Meanwhile We are subsidizing our fossil fuel industry…… is that sustainable???? Is fossil fuels sustainable?
 

nut

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Apparently this isnt sustainable ….

“Norway sets a fiscal rule on its petroleum revenue spending, according to which over time, oil revenue spending can equal the expected real return on the GPFG, which is estimated at 3%.”

😂😂😂😂😂😂😂😂😂


 

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I think if you put it to a vote a vast majority would go for 4 days.

I hated going from mining to mon-fri - 2 days isnt enough.



Now i work for myself i go for however long straight days in a row then take a week off. Never wanna do 5/2 again.


Worked 4/3 at barrick and it was bloody brilliant
But if everyone got 10 weeks of leave then people have a choice of how they use it. People could choose to use that leave to have a 4 day work week taking 1 day of leave every week and others could choose to do 2 month holidays every year.
 

Power Raid

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Yeah I'm supporting your unsupported PowerRaidonomics "it's not sustainable" with evidence that "it is sustainable".
If that's an emotional argument then what is your up is down argument?

So you believe oil and gas revenues are sustainable compared to the broad base of Australia?
 
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Number37

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So you believe oil and gas revenues are sustainable compared to the broad base of Australia?

Norway's oil and gas revenues will end in 50-ish years.
The Norwegians are very upfront about this.
They are going to keep all of the money they've accumulated in their wealth fund so far and basically live off the returns.
The Fiscal Rule that their parliament introduced will make sure that that happens.
 

Power Raid

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Norway's oil and gas revenues will end in 50-ish years.
The Norwegians are very upfront about this.
They are going to keep all of the money they've accumulated in their wealth fund so far and basically live off the returns.
The Fiscal Rule that their parliament introduced will make sure that that happens.

great and that's why I prefer our model which has a much broader base

but well done norway. if they can generate four times more wealth than they have already, per person, then they will achieve what Australia has.
 

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