Staff writers

Back at the Revenue Summit we are hearing from a panel about the cost of energy, and how big, foreign-owned gas companies are taking the piss out of Australians. 

“The gas price hurts everybody,” said Geoff Crittenden, CEO of Weld Australia. 

The discussion is about how in other sectors, users pay for what they consume (bakers pay for flour, builders pay for bricks, commuters pay for public transport).

However, foreign companies pay little to no royalties, petrouleum resources rent tax, or corporate tax. 

Deidre Willmott, Strategic Advisor at Fortescue, has been talking about the need move away from disesel subsidies and instead redirect incentives towards cleaner technologies. 

Greg Jericho, Chief Economist at The Australia Institute, has highlighted the many ways that “big gas is taking the piss”. 

Australians pay more in HECS than gas companies pay in PRRT,” said Mr Jericho.

In Western Australia, drivers pay more rego than gas pays royalties, and gamblers in Western Australia pay more tax from gambling than gas does from royalties”. 

Incredible, given WA doesn’t even have poker machines.