Why do workers vote Liberal?

[Power Raid]

As corrupt as say ;


By 2021 Australia will eclipse the Persian Gulf state of Qatar to become the world's biggest exporter of liquefied natural gas.

In that year, when both countries are forecast to pump and ship roughly 100 billion cubic metres of LNG each, Qatar's government will receive $26.6 billion in royalties from the multinational companies exploiting its offshore gasfields.

According to Treasury estimates, Australia will receive just $800 million for the same volume of gas leaving its shores.

??????

Don't bother, I've posted this to Power Raid before and they just pretended it wasn't true.

you've been conned

I just noticed the $26B royalty for qatar isn't a royalty but 100% of revenue, dressed up as a royalty by con merchants

on the same basis Australia generate $29B in "royalties"

 

[kranky al]

you've been conned

I just noticed the $26B royalty for qatar isn't a royalty but 100% of revenue, dressed up as a royalty by con merchants

on the same basis Australia generate $29B in "royalties"

You noticed?

obviously you would have a reference for this then.

 

[Power Raid]

You noticed?

obviously you would have a reference for this then.

page 35 https://www.jpmorgan.com/content/dam/jpm/global/disclosures/TW/qp_prospectus.pdf

2020 - $23B revenue (AKA con man royalty)
2021 - quarter $6B annualised $24B


FYI - the con man is not you but your reference

 

[kranky al]

page 35 https://www.jpmorgan.com/content/dam/jpm/global/disclosures/TW/qp_prospectus.pdf

2020 - $23B revenue (AKA con man royalty)
2021 - quarter $6B annualised $24B


FYI - the con man is not you but your reference

Ok im no accountant and never will be - i draw the line on research into things id rather nail my nuts to a burning building than try to get my head around.


Theres page 35, how does that mound of gobbledygook infer that qatars royalties as outlined in that article - are not just royalties but taxes as well?

 

[Saint]

Here's another reason workers vote liberal. Morons. Mormons. To be fair, if they kicked out all the religious nutters, they wouldn't have a party left in Melbourne's Eastern suburbs. Somebody inside leaking to try to have her kicked out. Obvs doesn't know religious nutters very well.

‘Unelectable’: Victorian Liberals seek to dump Mormon candidate

Moderate Liberals want the party to dump a preselected candidate for a key eastern suburbs seat, with one senior party official saying her recruitment of Mormon members and religious-right views make her unelectable.

www.theage.com.au

 

[Power Raid]

Ok im no accountant and never will be - i draw the line on research into things id rather nail my nuts to a burning building than try to get my head around.

View attachment 1309015
Theres page 35, how does that mound of gobbledygook infer that qatars royalties as outlined in that article - are not just royalties but taxes as well?

Qatar Energy (Petroleum) does not pay royalties as they are a state owned enterprise.

Flipping it back to why you raised this example in the first place is corruption. Yet too many of us read an article like the misleading article you read and accept the information in good faith.......as you should be able to do from time to time. Unfortunately we don't have strong enough laws to hold these misleading journalists and articles to account.


Further despite Qatar being a very wealthy nation due to its O&G and small population, the wealth doesn't flow back to the ordinary people. Australia's wealth net median and mean wealth eclipses Qatar and our average incomes smashes them out of the park. This highlights Australia's full tax regime at the state and federal level, plus the multiplier impact on the economy and our distribution of wealth system is superior to Qatar but also much revered places like Norway.

Our system is not perfect by any means but no one does it better. PS. I support increasing royalties for low risk commodities like iron ore and coal.

 

[kranky al]

Qatar Energy (Petroleum) does not pay royalties as they are a state owned enterprise.

Flipping it back to why you raised this example in the first place is corruption. Yet too many of us read an article like the misleading article you read and accept the information in good faith.......as you should be able to do from time to time. Unfortunately we don't have strong enough laws to hold these misleading journalists and articles to account.


Further despite Qatar being a very wealthy nation due to its O&G and small population, the wealth doesn't flow back to the ordinary people. Australia's wealth net median and mean wealth eclipses Qatar and our average incomes smashes them out of the park. This highlights Australia's full tax regime at the state and federal level, plus the multiplier impact on the economy and our distribution of wealth system is superior to Qatar but also much revered places like Norway.

Our system is not perfect by any means but no one does it better. PS. I support increasing royalties for low risk commodities like iron ore and coal.

Reckon we can do better than 900m for that much gas

 

[Marcel Proust]

Same reason povo bootlickers like billionaires

 

[cartwright]

according to newest Lib candidate for Warringah, the Liberal Party now represents the working people of Australia

“We are now representing the working class, average mum and dad, and all of the people that once thought that Labor represented them,” he said. “We need to be going out there as the Liberal Party and saying ‘look, we represent the working class’.”

Surprise Liberal challenger emerges in Warringah with ‘working class’ pitch

Lincoln Parker, a member of the Liberal Party’s Manly branch, is tipped to challenge barrister Jane Buncle for the right to take on independent MP Zali Steggall.

www.smh.com.au

 

[Power Raid]

Reckon we can do better than 900m for that much gas

and we do....$5B to $8B per annum

in 2020 WA's take is $600M, SA $300M, No figure available for Vic, Tassie or NSW, $450M Qld and the feds $900m so that's $1.8B ignoring the NSW, Vic and Tassie on royalties alone. Then add $3B to $6B of other taxes.

From review of old data (https://appea.com.au/wp-content/uploads/2020/07/APPEA-Financial-Survey-Results-2017-18.pdf) the total tax take is $5B to $8B per annum in total. Compare that with Qatar's total return of around $11B in a good year and $55M in a bad year. The difference between our model and theirs is we generate a a 50% return on profit for zero capital outlay and zero risk where Qatar takes a 100% return for 100% risk.

The other difference is our operators take offshore risk and Qatar onshore or shallow risk.

We can do better and we should increase our royalties on the low risk mining shallow bulk commodities including onshore gas.

 

[Christopher Buttersnip]

Here's another reason workers vote liberal. Morons. Mormons. To be fair, if they kicked out all the religious nutters, they wouldn't have a party left in Melbourne's Eastern suburbs. Somebody inside leaking to try to have her kicked out. Obvs doesn't know religious nutters very well.

‘Unelectable’: Victorian Liberals seek to dump Mormon candidate

Moderate Liberals want the party to dump a preselected candidate for a key eastern suburbs seat, with one senior party official saying her recruitment of Mormon members and religious-right views make her unelectable.

www.theage.com.au

If they're banking on the Mormon vote they really are in noddy land.

I'm still hoping there will be enough workers who've been punished year after year by the reactionaries who will awake from their political somnolence and say ENOUGH.

 

[Stan_Darsh72]

according to newest Lib candidate for Warringah, the Liberal Party now represents the working people of Australia

“We are now representing the working class, average mum and dad, and all of the people that once thought that Labor represented them,” he said. “We need to be going out there as the Liberal Party and saying ‘look, we represent the working class’.”

Surprise Liberal challenger emerges in Warringah with ‘working class’ pitch

Lincoln Parker, a member of the Liberal Party’s Manly branch, is tipped to challenge barrister Jane Buncle for the right to take on independent MP Zali Steggall.

www.smh.com.au

The average worker in Australia is in a casual job right now.

The libs want Aussies to be slaves for their donors.

 

[cartwright]

The average worker in Australia is in a casual job right now.

The libs want Aussies to be slaves for their donors.

i believe we have the highest proportion or one of the highest of part time employment in OECD.

 

[Stan_Darsh72]

i believe we have the highest proportion or one of the highest of part time employment in OECD.

Less taxes and less consumer spending and considering we are consumer economy that is not good news, add in rising costs of living, inflation, aging population. It is a disaster in the making.

 

[kranky al]

Less taxes and less consumer spending and considering we are consumer economy that is not good news, add in rising costs of living, inflation, aging population. It is a disaster in the making.

Its amazing that the middle class cant see this.

 

[Johnny Bananas]

page 35 https://www.jpmorgan.com/content/dam/jpm/global/disclosures/TW/qp_prospectus.pdf

2020 - $23B revenue (AKA con man royalty)
2021 - quarter $6B annualised $24B


FYI - the con man is not you but your reference

The reference that you deride as a "con" was a forward projection published in the SMH in 2016. Actually they were too conservative, in that Australia overtook Qatar to be the world's largest LNG exporter in 2019, not 2021. When that shift took place, according to the document you linked to, revenue was QAR 108.3 billion and profit was QAR 72.7 billion. Using the exchange rate of 1 QAR : 0.40 AUD that was the case in December 2019, this is a revenue of $43.2 billion and a profit of $29.1 billion. All profits payable to the government, not even including company tax. Both revenue and profit cratered in 2020 and the first three months of 2021 because the demand for gas fell due to the global lockdown and recession. You can't expect anyone to have predicted that event in 2016.

So the reference was not a con, it was a prediction that actually understated trends. You've just been cherry-picking the data.

 

[Power Raid]

The reference that you deride as a "con" was a forward projection published in the SMH in 2016. Actually they were too conservative, in that Australia overtook Qatar to be the world's largest LNG exporter in 2019, not 2021. When that shift took place, according to the document you linked to, revenue was QAR 108.3 billion and profit was QAR 72.7 billion. Using the exchange rate of 1 QAR : 0.40 AUD that was the case in December 2019, this is a revenue of $43.2 billion and a profit of $29.1 billion. All profits payable to the government, not even including company tax. Both revenue and profit cratered in 2020 and the first three months of 2021 because the demand for gas fell due to the global lockdown and recession. You can't expect anyone to have predicted that event in 2016.

So the reference was not a con, it was a prediction that actually understated trends. You've just been cherry-picking the data.

I'd prefer to look at the annual accounts

but what is the point your trying to raise in context to why Qatar was even raised?

 

[Johnny Bananas]

I'd prefer to look at the annual accounts

but what is the point your trying to raise in context to why Qatar was even raised?

The point is your attack on the piece kranky al cited is unwarranted. It accurately describes the money Qatar was making from gas before the pandemic. If you're going to complain about the media lying, pick a more appropriate target.

 

[Power Raid]

The point is your attack on the piece kranky al cited is unwarranted. It accurately describes the money Qatar was making from gas before the pandemic. If you're going to complain about the media lying, pick a more appropriate target.

JB you're better than this

1) a reference about corrupt organisations (unions) was raised
2) the defence of corrupt unions was "but the federal govt is corrupt look at our low $900m royalty take vs Qatar's $26B
2a) one corrupt organisation doesn't justify another
2b) The $900m Oz royalty figure is wrong and the $26B Qatar royalty figure is wrong. Essentially corrupt journalism and or corrupt influencers tried to mislead readers and the public.
3) you now based on the post Qatar Energy pays no royalties as they are a SOE. So why do you suggest corrupt journalist who claim Qatar receives $26B in royalties shouldn't be attacked when in fact they pay 0% royalties. Why shouldn't they be attacked when the so called royalty is in fact revenue?
3a) you know the different layers of government in Australia exist and we know the Australian Governments receive $5B-$8B per annum with feds $900M and WA alone $600M
4) if Qatar's scheme is so much better than our and as big as our, why are Qatar citizens poor compared to Australians?

Perhaps your post explains why people vote labor..........even when facts are presented, there is denial of reality. What I don't understand in this denial, is who gives a shit about Qatar? Why are you so sensitive about protecting Qatar, you will defend corrupt journalism and false statements? Do you really believe Qatar is not corrupt?

Do you still support corrupt journalism?

 

[Power Raid]

The reference that you deride as a "con" was a forward projection published in the SMH in 2016. Actually they were too conservative, in that Australia overtook Qatar to be the world's largest LNG exporter in 2019, not 2021. When that shift took place, according to the document you linked to, revenue was QAR 108.3 billion and profit was QAR 72.7 billion. Using the exchange rate of 1 QAR : 0.40 AUD that was the case in December 2019, this is a revenue of $43.2 billion and a profit of $29.1 billion. All profits payable to the government, not even including company tax. Both revenue and profit cratered in 2020 and the first three months of 2021 because the demand for gas fell due to the global lockdown and recession. You can't expect anyone to have predicted that event in 2016.

So the reference was not a con, it was a prediction that actually understated trends. You've just been cherry-picking the data.

can you post the SMH forward projection? Given I haven't seen this article, it is hardly possible to deride.

and why would we look at that rather than the actual financial statements?

and what is the relevance of covid? I was simply calling out corrupt journalism for calling operating revenue a royalty

 

[Christopher Buttersnip]

It's the Liberal way. Look after rich and powerful and stuff the rest. What a wasteful, indulgent, pathetic despisers of the underdog they are.

 

[Ned_Flanders]

It's the Liberal way. Look after rich and powerful and stuff the rest. What a wasteful, indulgent, pathetic despisers of the underdog they are.

liberal way then is to order $62m of the things:

‘Crisis’: Outrage over surprise RAT move

Anthony Albanese has slammed the Prime Minister for failing to learn from the pandemic after it was revealed the government quietly put out an urgent tender for rapid antigen tests.

www.news.com.au

An urgent tender for millions of rapid antigen tests has been placed by the federal government.
In total, five tenders for rapid tests worth just under $62 million were quietly published on Tuesday by the Department of Health.

On the AusTender website, the department listed “extreme urgency or unforeseen events” as the reason for the limited tender.

The tender comes just a day after Prime Minister Scott Morrison faced backlash from pharmacists after they were told they needed to secure their own supply of additional tests to support the government’s plan for free RATs for concession card holders.

 

[Gough]

liberal way then is to order $62m of the things:

‘Crisis’: Outrage over surprise RAT move

Anthony Albanese has slammed the Prime Minister for failing to learn from the pandemic after it was revealed the government quietly put out an urgent tender for rapid antigen tests.

www.news.com.au

An urgent tender for millions of rapid antigen tests has been placed by the federal government.
In total, five tenders for rapid tests worth just under $62 million were quietly published on Tuesday by the Department of Health.

On the AusTender website, the department listed “extreme urgency or unforeseen events” as the reason for the limited tender.

The tender comes just a day after Prime Minister Scott Morrison faced backlash from pharmacists after they were told they needed to secure their own supply of additional tests to support the government’s plan for free RATs for concession card holders.

So we're going to get done over twice, gouged first by Scott's beloved private sector at his behest, now by the suppliers who are going to smell his desperation and charge like a wounded bull for these things.

 

[nut]

It is criminal how little money this nation gets from resources.

Gough says hi !!!

Norway 2% of worlds stocks and billions in property all the Over the world.

 

[Baltimore Jack]

Gough says hi !!!

Norway 2% of worlds stocks and billions in property all the Over the world.

Rudd and Gillard also say a little hi