SnapBackAU
17K posts
@SnapBackAU In part.
Thing is, the current PRRT exists.
Not taking action is still action.
Our job is to find the least worst outcome either way.
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On the PRRT / Gas Tax thing:
The current system is an oil and gas company charity. It's ridiculous.
But also, I don't agree with a 25% tax on gas, because they're making windfall profits.
We need to fix it *properly*.
How?
Read on:
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@SnapBackAU No-one knows the future.
The best we can do is a beat guess.
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@TMFScottP Is there someone with the expertise to devise a scheme whereby the maximum amount of revenue is raised without harming current/future investment? Sure be nice to learn the identity of such an expert.
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@SnapBackAU I know the limits of my expertise - I don't pretend to be able to determine that from the outside.
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@TMFScottP Aren’t royalties generally treated as tax deductible business expenses?
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@SnapBackAU My suggestion is a royalty that starts with a base price then scales with prices.
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@TMFScottP When LNG prices jump 70% gross margins surge and an export tax would capture greater revenues while a tax on volume wouldn’t rise unless production rises.
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@SnapBackAU It's kinda false maths though.
A 20% tax on the wholesale price, and a 10% tax on the retail price of something with 50% gross margins raises the same revenue.
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@DianeSwonk Just think of how many people with your wealth that are completely devoid and detached from the plight of the masses. Hopefully your insights will reach the people most in need of hearing about your observations.
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@TMFScottP Just seems much simpler and lucrative to tax LNG on exported value rather than having an extraction royalty on volume.
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@TMFScottP In that case, for LNG, I’d rather see an export tax based on the value of exports rather than a wellhead extraction tax based on volume.
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@TMFScottP So we shouln’t capture any of the export price premium over domestic wholesale?
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@SnapBackAU The value add isn't particularly meaningful, royalty-wise.
But no, I don't think a 'royalty' should be charged on added value.
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@TMFScottP So we’d capture none of the value added from processing?
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@TMFScottP The base price per unit of volume gets a bit tricky for gas/lng. What gets charged the inputs or the outputs?
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1. We should charge a base price per unit of volume. The message: if you can't make money at that level, leave it in the ground for a time when you can.
2. We should charge a sliding scale above that base price, so that when the market price is higher, we get a share of the gain
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@johnkonrad @DNIGabbard @SECNAV If you can arrange to get AUKUS cancelled the left in Australia would hail you as a hero. Many see it as a wasteful misallocation of resources tied to an unreliable/unstable Trump administration.
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Making headlines down under. Link in comments.
Five Eyes is an intelligence alliance, not a suicide pact.
Why hasn’t @DNIGabbard ended it?
Will @SECNAV Hung Cao investigate AUKUS for woke creep?
John Ʌ Konrad V@johnkonrad
Meet Australia’s new Secretary of Defense. “Trained economist” Never served in the military. But she has won a medal for “outstanding public service” in the development of climate change policy.
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@OMGTheMess Look FW, you’re posting BS. Either you’re an idiot who can’t discern factual details or purposely posting crap to rile people up. Currently managing finances for my 87 year old ml in aged care. None of her day-to-day living arrangements are subject to GST.
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The Albanese government has quietly imposed GST on aged-care living fees without public consultation, potentially hitting 100,000 elderly Australians with higher costs: bit.ly/42pOvYd
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@Mathan_Soma More like the teams haven’t even shown up at the ballpark yet stage.
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I don't think I have enough gold exposure for this stupidity! 🤔
Barchart@Barchart
“We’re in the early innings of a structural decline in prices,” says incoming Fed Chair Kevin Warsh
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@MrRexPatrick @mangotree_books The NDAA only funded one so the USN didn’t refuse anything, you obviously know this.
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The US Navy (USN) refused to sign a contract for two Virginia Class subs for FY2025, instead ordering one. The USN knows what Australian #AUKUS advocates choose to ignore - more back-orders won't magically fix production issues in its shipyards. #auspol abc.net.au/news/2026-04-2…
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In Australia this was possible because of population, in the US not too sure (given almost opposite population dynamics)
Charlie Bilello@charliebilello
US Retail Sales hit another all-time high while Consumer Sentiment is at its lowest level in history. Watch what they do, not what they say.
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