Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Registered members
Current visitors
Charts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
General
General Chat
Foreign ownership of our resources and businesses.
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support Prospecting Australia:
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="user 4386" data-source="post: 660604" data-attributes="member: 4386"><p>Taxes are of course imposed on profit, royalties are imposed on tonnes mined before profit, so I'm not sure how you combine them.</p><p>Norway has a population only 50% greater than Sydney from memory. It has largely nationalized its "mineral" industry (i.e. minerals and energy) which is almost entirely oil and offshore and therefore all under their Federal control. In Australia most of our mineral industry is onshore and under the control of whatever state it falls in, not under Federal government control (and you would have to change our constitution to change that - fat chance WA or Qld would agree!. As for looking after the environment. Norway has been pegging the Arctic for future oil exploration, to take advantage of melting sea ice making exploration easier - but I guess that means it is not going to get rid of hydrocarbons soon. "The industry plays a vital role in the Norwegian economy and the financing of the Norwegian welfare state. The oil and gas sector is Norway's largest measured in terms of value added, government revenues, investments and export value". Without oil they have? Fish.</p><p></p><p>HOWEVER, I think they have shown common sense in not blowing their oil windfall, but instead investing it in a future fund for when oil runs out.</p></blockquote><p></p>
[QUOTE="user 4386, post: 660604, member: 4386"] Taxes are of course imposed on profit, royalties are imposed on tonnes mined before profit, so I'm not sure how you combine them. Norway has a population only 50% greater than Sydney from memory. It has largely nationalized its "mineral" industry (i.e. minerals and energy) which is almost entirely oil and offshore and therefore all under their Federal control. In Australia most of our mineral industry is onshore and under the control of whatever state it falls in, not under Federal government control (and you would have to change our constitution to change that - fat chance WA or Qld would agree!. As for looking after the environment. Norway has been pegging the Arctic for future oil exploration, to take advantage of melting sea ice making exploration easier - but I guess that means it is not going to get rid of hydrocarbons soon. "The industry plays a vital role in the Norwegian economy and the financing of the Norwegian welfare state. The oil and gas sector is Norway's largest measured in terms of value added, government revenues, investments and export value". Without oil they have? Fish. HOWEVER, I think they have shown common sense in not blowing their oil windfall, but instead investing it in a future fund for when oil runs out. [/QUOTE]
Verification
Post reply
General
General Chat
Foreign ownership of our resources and businesses.
Top