@Ripharambe73 @taipan168 @koality_bear Are you genuinely retarded? The US produces 13 million barrels a day largely due to shale oil production.
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aseeker
32 posts
@ASeekher @taipan168 @koality_bear That's what happened when BHP tried to start producing shale, they invested 50 billion in 2011 in the US cause it seemed economical with oil so expensive and OPEC just pushed them out to the point they gave up and sold it for pennies in 2018
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It's utterly amazing that some people believe that there are 200 billion barrels of oil worth $20trn that could be economically extracted and refined in Australia and turn us into the next Saudi Arabia but aren't because something something "wokeness".
James 🌸🏴🇦🇺@comical_engr
South Australia may be sitting on one of the largest untapped oil resources on Earth. Australia is also... #1 exporter of iron ore #1 lithium producer #1 LNG exporter #1 coal exporter on Earth And the 3rd largest energy exporter on the planet. In other words… Australia helps power the world. Yet we still import most of the oil that keeps the whole thing running. Which makes even Adelaide, super interesting… Back in 2013–14, studies suggested the Arckaringa Basin near Coober Pedy could contain 200+ billion barrels of shale oil equivalent. Some estimates at the time suggested the resource could be worth around $20 trillion, and that's now over 10 years ago. Meanwhile Australia carries around $1 trillion in government debt. For context, Saudi Arabia has about 240 billion barrels. Venezuela around 300 billion. If those estimates are even close… That's Trump takeover territory Saudi-Arabia scale. Honestly, people in Adelaide should be sitting on gold-plated toilets by now and living the high life. Instead… Australians hand over close to 50% of their earnings in taxes and charges. Countries with big energy reserves like this usually turn that wealth into national assets. Norway built a $1.7 trillion fund from oil. For a country this resource-rich... you’d think we could at least afford our own fuel. So the obvious question is... Where exactly is all the money going? Credit: Marc Owen
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@DTealy1 @DavidPocock Exactly if you want less investors tax than more that’s exactly what he’s saying lol 🤣
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@DavidPocock Don’t lie. More taxes won’t incentivise supply
If you won’t less of something, tax it more
It is duplicitous to say that because some people trust you and will believe it
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I've been pushing for the capital gains tax discount to be reduced to 25% & tied to new homes only.
This will help incentivise new supply which has flow-on benefits for ppl renting & makes it easier for first homebuyers.
We should also cap negative gearing to 1 property & reinvest revenue not foregone in new social & affordable homes.
These measures won't solve affordability on their own but will help, and they send a signal that 🇦🇺 wants housing to be accessible and affordable, not primarily an asset class for wealth creation.
theguardian.com/australia-news…
@GuardianAus
@TomMcIlroy
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@taipan168 @DavidPuls Might as well be southeast Africa we aren’t good at anything 😂
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@DavidPuls Manufacturing in Australia, with a few exceptions, sucks and we shouldn’t do it because we’re no good at it.
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@taipan168 @koality_bear Why is not economic? It’s not economic because of the regulation and red tape involved
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@koality_bear It's because the resources are not economic to extract unless the oil price remains above ~US$150/bbl for an extended period.
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Unless Jim Chalmers and Clare O'Neil are going to announce they will start making mortgage repayments on behalf of the 5% deposit new home buyers, then the ALP has gifted the LNP a generation of voters
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@AvidCommentator I’m so sick of all the political parties. Bring on BURNOUT lol
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The speech I would write for Albo for tomorrow evening:
"My fellow Australians,
I come before you tonight amidst challenging times for Australia and the world.
With traffic through the Strait of Hormuz slowing to a trickle compared with its normal flows, nations around the globe, including Australia face an uncertain future for our energy supplies should the crisis continue.
For this reason, I am calling for an emergency meeting of National Cabinet for Wednesday to discuss the issue with state and territory leaders, as well as with experts from relevant industries.
As part of our meeting we will prepare a series of plans to secure Australia's immediate energy future, by moving to conserve the fuel supplies we have and ensure that we have adequate supplies for as long as possible.
From this moment on, my government is making the recommendation that all Australians consider taking public transport instead of driving should that be appropriate for their journey.
I am also calling on employers from across the nation to consider allowing employees to work from home until the current crisis passes.
Australians are a deeply resilient people, we have shown that during the pandemic, the Depression and during two world wars.
When we are collectively called to work together to overcome adversity, we have done so on every occasion in our history and I am certain we will again.
As volatility in the energy supply market continues, my government will be making it clear that while we will attempt to keep our existing energy export commitments, that comes with an obligation to those whose economy's are powered with Australian energy products.
If we supply you with the liquefied natural gas, thermal coal and coking coal to feed your economy's, then we expect that you continue to provide us with the refined fuels such as petrol, diesel and jet fuel that we receive from you.
If you dont keep your commitments with us, then Australia will respond in kind.
My government will secure Australians energy future, no ifs or buts, we will do whatever is necessary to keep Australia moving.
In this the help of each and every Australian is vital, and I know we will collectively rise to the occasion, as we always have as a proud and united Australian people.
Thank you."
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aseeker retweetledi
Allegra Spender bought a new $25million family home in 2024.
Any capital gains on that are tax-free
She wants to reduce the CGT discount from 50% - 30%
Why doesn't she propose a Capital Gains Tax on PPOR above say $5million?
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Really important day as Labor's reforms that boost the superannuation savings of 1.3M low-income workers are likely to pass the Parliament tonight.
These changes will help make the super system fairer from top to bottom.
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@steveUsename @nemozip00 @heathmoss83 @au_shareplicity @TheKouk Which is why they will raise rates and the government will introduce a new program called house keeper lol 😂
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@nemozip00 @heathmoss83 @au_shareplicity @TheKouk The Reserve Bank of Australia (RBA) mandate, derived from the Reserve Bank Act 1959, is to ensure monetary and banking policies best contribute to currency stability, full employment, and the economic prosperity and welfare of Australians
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Oil price shocks are recessionary & deflationary. The best response is to cut interest rates.
Don't take my word for it, University of Michigan's Lutz Kilian prepared a research paper for an RBA Conference. He concluded:
"an oil price shock, if it occurs in isolation, [trends] to be recessionary and deflationary, suggesting that there is no reason for monetary policy-makers to raise interest rates. In fact, one could make the case that policy-makers should lower interest rates to cushion the recessionary impact. Moreover, if both the aggregate demand and the aggregate supply curves shift to the left, as seems plausible, the net effect on the domestic price level is likely to be small, so there is little need for central bankers to intervene.”
RBA Governor said much the same last week:
"a prolonged impact on energy markets could have adverse effects on global economic activity and result in downward pressure on inflation."\
The Gov has a great chance to outline these sorts of issues at her Press Conference next week.
youtube.com/watch?v=IQivCW…
YouTube
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@au_shareplicity @TheKouk Rising prices at the pump effectively do the same job as a rate rise. RBA just needs to hold and monitor the situation.
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@AvidCommentator The whinging is fine it’s the moves the government will make to abate the cries that pisses me off lol 😂
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You know what I'm not looking forward to about this crisis, aside from the obvious
The whinging from classes of people who have made bank on intervention after intervention by policymakers, which has led to the unnecessary suffering of far more people than it helped.
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@matcoch Good numbers. They might struggle next year if something major isn’t done about the new cars’ power. Could they reduce battery to 40% or less and up the engine hp? Would get rid of the appalling crap 50/50 has delivered. That’s until V10s are ready to go ……
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Hey Elon, lots of people in the Sydney Tesla community want to buy FSD post delivery to save on Luxury Car Tax, is there any chance for cars ordered on or by 31 March, can buy one off FSD either on delivery or within a given time? This’d save consumers 20-30% FSD purchase price.
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Allowing negative gearing on 2 properties does nothing to address wealth creation You split ownership between spouse and family trust 6 investment homes plus home with no or little tax
That is just 85,000 Australian families . It is imperative to abolish all negative gearing and capital gains tax discounts
Incrementalism is the enemy of the perfect Nothing else will address intergenerational inequality and affordable homes @PaulineHansonOz @larissawaters @swrighteconomy
Perth, Western Australia 🇦🇺 English
Meanwhile in Australia they think it’s good to spend 90 billion to build high speed train line from Newcastle to Sydney please help #auspol
Elon Musk@elonmusk
Tunnels are so underrated
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@MarkDiStef And this helps affordability and rental costs how ?
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@AvidCommentator Melbourne is doing pretty good honestly it’s so obvious you need to make investor sentiment go down and that alone can keep price rises contained
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The cost of an entry level house (25th percentile by value) in Australia has skyrocketed.
Wages have not....
Data source: Domain
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@Austriker3 @Crypatoshi @linzcom So many people have installed solar and batteries around me and the cost of electricity now for me is like 0 wonder if they take this into consideration?
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@Crypatoshi @linzcom Rents weren't too bad last 12 months. Of this 3.8%, elec is nearly 0.8% by itself
Then elec prices likely to fall, so deflationary impact from July
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