the use of crisis-afflicted European-style windfall profit taxes, Mr Husic hinted that some form of revenue measure may yet be revived if moral suasion fails even though it is not currently on the agenda.on Thursday. “We need the gas companies to embrace common sense, and, if not we’ll explore other options.”over a heads of agreement struck last month by Resources Minister Madeleine King with the three major east coast gas exporters.
Labor is now looking at making it compulsory. And while it does not include price controls, which the gas industry says would kill off investment in pipelines and supply, it does have wording that requires gas producers to treat customers in a “fair and transparent” manner. The Coalition seized on Labor’s internal divisions over the issue, with deputy leader Sussan Ley saying on Thursday that Labor is not doing enough to address the rising cost of fuel and inputs.“We’re not talking about the minister for the arts and the minister for sport not agreeing,” she said.
This is why the manufacturing lobby group has instead called on the government to take a three-pronged approach. But because the first two options are likely to be expensive, AIG is urging the government to offset the cost by amending the PRRT.
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weak as water
“My firm preference is to avoid a tax solution,” Mr Husic told The Australian Financial Review on Thursday. “We need the gas companies to embrace common sense” Govt still has no idea the flow on effects that will come to fruition in 2023 when these contracts turn into bills.
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‘It’s team Australia or team greed’: Industry Minister criticises gas companiesIndustry Minister Ed Husic has criticised Australia’s gas companies as domestic gas prices continue to rise. “All they’re doing is sucking up an Australian resource and selling it at phenomenal prices overseas and doing so in such a way that is putting pressure on manufacturers and households in this country,” Mr Husic said. “They can either do the right thing by the country or continue to be greedy. It’s team Australia or team greed.” 🤡 If they didn't export it, the investment to extract it wouldn't have happened. It's a failure of successive governments to not mandate a percentage available for Australian use. But what else would you expect from someone that's never worked in the private sector? Whatever happened to the law of supply and demand. 10 years ago, in the realm of Rudd/Gillard I had to do some investigation into a gas fired power station & 25km of 66kV power line. It was 3 years old and never been used. Why? The price of gas was too high to compete with coal. But they had a plan 🤔
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Gas companies need to lower prices and be ‘Team Australia’Gas prices are soaring making it increasingly more unattainable for Australians – with Industry Minister Ed Husic telling Sky News Australia that gas companies “can either do the right thing by the country, or they can continue to be greedy '. 'It’s Team Australia or Team Greed,” Mr Husic said. Treasurer Jim Chalmers said: “extraordinarily high prices for gas are smashing our local industries – particularly our manufacturers”. Suggest edhusic look to his own greed 🤢🤢 The government can do the right thing too! But don’t! Hmm so the workers should take a cut ? The wages are a big part of the costs involved. So short sighted
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Labor ramps up pressure on gas industry as energy prices rise but stops short of price capsUnions accuse resource minister Madeline King of signing ‘dud deal’ with multinational gas companies Why so slow - excess profits equals price gouging. AlboMP you don’t need to be friends with companies that suck value from our country. They need to be friends with australia energy CorporateGreed
Source: GuardianAus - 🏆 1. / 98 Read more »
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Source: FinancialReview - 🏆 2. / 90 Read more »