Banter Adelaide Board's Combined Politics/Covid discussion Banter Thread (WARNING NOT FOR THE FAINT-HEARTED)

[Coopers]

The mining industry sold $2.1 trillion worth of Australian resources overseas in the past decade but Australian governments received less than a 10% return. The actual rate – 9.1% – covers royalty payments and taxes paid. If we consider only royalties, then the rate drops to 5.6% of the value of exported resources.

We must be more liken Qatar and Norway and increase our mineral royalties.

Australia became the world’s largest net exporter of liquified natural gas (LNG), overtaking the small Middle Eastern state of Qatar.

Australia’s LNG production leapt 21 per cent in the past financial year to 75.1 million tonnes, according to data from energy advisory company EnergyQuest.

The Department of Industry, Innovation and Science also reported in March that Australia’s LNG exports were forecast to increase from $32 billion in 2017-18 to a peak of $51 billion in 2019-20.


World champions in LNG: Great news for the economy, you might think, with those rivers of resource royalties flowing in to government coffers.

The reality, though, is vastly different.

In 2017-18, LNG companies in Australia had revenue totalling $29.7 billion, yet paid just $1.07 billion in royalties levied under the petroleum resource rent tax (PRRT).

In 2016-17, from revenue of $22.7 billion, they paid only $970 million in PRRT.

By comparison, Qatar, a close second behind Australia in production, received a staggering $26 billion in royalties.

Bruce Robertson, an investment analyst with the Institute for Energy Economics and Financial Analysis (IEEFA), said the PRRT was essentially a bad joke that was robbing Australia of what it was entitled to – the dividend from its gas resources.

87 per cent of new LNG projects in Australia were owned by foreign multinationals, such as Chevron, ExxonMobil and Shell.

“They [the LNG companies] are pumping out the world’s largest volumes of LNG and essentially paying nothing for it,”

“And Chevron and ExxonMobil have openly admitted to the government that they don’t expect to pay any PRRT until the mid-2030s.”

Did you just say "mining tax"?

This will literalliy crush the miners. No more cashed up WA bogans. We will all be jobless and homeless. I recall Gillards non-re-election.

Take this into consideration: Cost of production of iron ore for Rio is $14.3 according to this: Rio’s now mining iron ore for $14.30 a tonne

Iron ore spot price was $132 yesterday if I recall. Very little wiggle room.

 

[fortunatecrow]

Man oh man, he just dropped like a sack of potatoes

View attachment 1403326

Come on, it's pretty obvious the kid flopped. Probably collects a fine from the MRO.

 

[Doctor B]

Did you just say "mining tax"?

This will literalliy crush the miners. No more cashed up WA bogans. We will all be jobless and homeless. I recall Gillards non-re-election.

Take this into consideration: Cost of production of iron ore for Rio is $14.3 according to this: Rio’s now mining iron ore for $14.30 a tonne

Iron ore spot price was $132 yesterday if I recall. Very little wiggle room.

Haha, why tax the miners when we can robodebt the **** out of the sick, the old and the poor?!?!

 

[Doctor B]

 

[Crow till I die]

Morrison's campaign manager watching on:

View attachment 1403398

 

[Cap]

Election blackout periods | ACMA

You cannot show any election ads from the end of the Wednesday before polling day until the close of the poll on polling day.

www.acma.gov.au

Tell me this is true

 

[George Kramer]

Election blackout periods | ACMA

You cannot show any election ads from the end of the Wednesday before polling day until the close of the poll on polling day.

www.acma.gov.au

Tell me this is true

Just in time for Labor's costings!

I don't get why there is a blackout though, whats the difference to the last couple of days to the rest of the campaign and you can still have on-line and print.

 

[Coopers]

Haha, why tax the miners when we can robodebt the **** out of the sick, the old and the poor?!?!

No point fantasizing about this kind of tax reform, it will never happen.
Best bet is to just make sure you're part of the bourgeoisie.

 

[Cap]

Just in time for Labor's costings!

I don't get why there is a blackout though, whats the difference to the last couple of days to the rest of the campaign and you can still have on-line and print.

Voter relief?

What I find most interesting is there is no truth in advertising for political parties

 

[George Kramer]

Voter relief?

What I find most interesting is there is no truth in advertising for political parties

The relief happens in 3 days anyway, until the misery of an Albo led minority government

 

[Vader]

Election blackout periods | ACMA

You cannot show any election ads from the end of the Wednesday before polling day until the close of the poll on polling day.

www.acma.gov.au

Tell me this is true

True for TV & radio advertising. I'm not so sure about internet advertising.

 

[Cap]

The relief happens in 3 days anyway, until the misery of an Albo led minority government

Look I'm a few months into what is already a s**t Labor SA Govt

I can handle whatever is thrown at me.


I'm going to get involved for the 2025 state election again, just waiting to see what happens in Sturt, might start going to Federal meetings too.

 

[Cap]

True for TV & radio advertising. I'm not so sure about internet advertising.

Haven't seen anything yet. But won't be surprised if I do.

 

[George Kramer]

Look I'm a few months into what is already a s**t Labor SA Govt

I can handle whatever is thrown at me.


I'm going to get involved for the 2025 state election again, just waiting to see what happens in Sturt, might start going to Federal meetings too.

Hey at least ramping is fixed, its just moved to WA, Vic and Qld

 

[Vader]

Haven't seen anything yet. But won't be surprised if I do.

uBlock Origin is your friend

 

[ADL9798]

Superior in the sense that the Coalition have accumulated more debt than the ALP.

This Coalition government aren't a patch on the Costello treasurer years.

And yet wait until Labor finally release their costings and debt is forecasted higher….

There are some interesting articles out there which use historical economic data to explore what government debt burden actually means, and whether achieving a balanced budget/surplus to reduce this debt burden is actually as important as we’ve been conditioned to think.

History shows future generations don’t need to suffer from government debt - Michael West

Cutting government services to pay off pandemic debt is an ideological choice. History shows focussing on full employment is the answer. Warwick Smith reports.

michaelwest.com.au

Australia’s debt and interest burden: can we afford it?

Australia has an ageing population and rising welfare and health costs, but it is still the best placed among its 'developed' country peers. Here's why the expected levels of debt are manageable.

www.firstlinks.com.au

 

[Slippery Pete]

Morrison's campaign manager watching on:

View attachment 1403398

I want to know who advises politicians to do this stuff, because it happens far too much.

What adviser is sitting there going “We should let this out-of-shape fat bastard run around kicking a soccer ball. This is exactly what voters want to see.”

Unless they were sabotaging him, in which case I totally get it.

 

[Cap]

uBlock Origin is your friend

I'm actually looking to invest in a VPN (most seem to have ad blockers)

Just unsure which one is any good

 

[Vader]

I'm actually looking to invest in a VPN (most seem to have ad blockers)

Just unsure which one is any good

I use PIA (Private Internet Access), and I haven't got any complaints. Actually, that's not entirely true - there are a number of sites which don't work when I have the blocker enabled - KFC and Crust Pizza are two which spring quickly to mind.

As far as adblocking goes, uBlock is far more effective than any VPN.

 

[Slippery Pete]

Who goes on the KFC website?

 

[Geoffa32]

Who goes on the KFC website?

..View attachment 95aeb515577e9c05169bd0ef09e9a9e90222453b.webp

On SM-A325F using BigFooty.com mobile app

 

[Drugs Are Bad Mackay?]

I want to know who advises politicians to do this stuff, because it happens far too much.

What adviser is sitting there going “We should let this out-of-shape fat bastard run around kicking a soccer ball. This is exactly what voters want to see.”

Unless they were sabotaging him, in which case I totally get it.

"When you get to the factory put on a hard hat. The blue collar types will think you're just one of the work crew"

 

[Cap]

A ‘cancer on our democracy’: How to fix Australia’s pork-barrelling crisis

How galling it is to watch politicians merrily traipsing around the country maxing out the national credit card as Australian families are battening down the hatches on their household budgets.

www.google.com

Something all sides of politics would agree with.

We need to end pork barrelling.

 

[kirky]

Yesterday you said he wouldn't front the ABC and yet he did the night before, now you've qualified it to the Q&A, gees keep changing the goal posts.

And yes ACA, I reckon more would watch that than the NPC and Grimshaw grilled ScoMo, the difference is he can handle it, not what we've seen from Albo so far.

And personal insults, the pressure must be getting to you.

What pressure? FMD you are deluded.

I’m just laughing at you trying to justify not going to the National Press Club

ACA audience, probably much like yourself, aren’t the smartest tools in the shed.

 

[kirky]

And yet wait until Labor finally release their costings and debt is forecasted higher….

Your lacking of finance expertise is showing.

Of course the debt is going to be higher, we ain’t having budget surpluses probably for decades. It will be higher under both parties.

What is more important is doubling the debt in 6 years from Sept 2013 to 2019 (pre-pandemic) with no external shocks and nothing to show for it.

Whatever you do as an occupation I for god sake hope it isn’t involving finance. You suck at it!