The fact that an energy exporter like Australia is having a tough time when the prices of our energy exports are sky high shows just how broken our political debate has become.
Photograph: Joel Carrett/AAPPhotograph: Joel Carrett/AAPt’s never too late to fix a problem. It doesn’t matter if it’s you who has been putting off a trip to the doctor or your country that has been putting off properly taxing its natural resources, it really is better late than never.
This year Norway, with a population of only 5.3 million, will collect about $137bn in tax from their oil industry. They had expected $95bn but will collect nearly 50% more than planned,Meanwhile here in Australia, despite being the world’s third largest exporter of fossil fuels, people are struggling with high prices for petrol, gas and electricity .
And in a valiant attempt to defend the indefensible, the Business Council of Australia may have thrown the mining industry under the bus, while trying to argue that profits aren’t coming at the expense of wages.Stephen Walters says that “after excluding the miners and banks, which are distorting this data and where wages are amongst the highest in the nation, the broader profit share actually has fallen”.
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