Australia exports $65 billion of gas a year and collects only $2 billion in tax on it

(less than what we collect from student debt alone)
The tax was designed in 1988 for offshore oil. When gas took over as Australia’s dominant export, the same broken framework was applied to it, and the companies figured out how to pay almost nothing.
They’re legally allowed to understate the value of gas before liquefaction (the taxable part) while overstating the processing costs that aren’t.
LNG prices in Asia are up 60% since the war started. Australian electricity bills follow.
When Iran struck Qatar’s LNG hub Australia became the world’s second largest exporter overnight.
There’s been a law that lets the government redirect gas from exports back to Aussie households during a shortage but it has never been triggered.
$16 billion in fossil fuel subsidies go out the door this year. That’s $31,000 a minute.
Australians are paying record energy bills while offshore gas companies are having their best year ever.​​​​​​​​​​​​​​​​
Make it make sense