The lack of basic financial literacy on full display by the usual crowd of fools. Increased taxes reduce consumption and industry profits, decreased taxes increase consumption and industry profit. It’s basic stuff but these clowns just don’t get it.
Most of what The Australia Institute calls a subsidy is the fuel rebate ($8.9bn in FY24), which predominantly goes to mining, agriculture & transport. Not the oil'n gas industry.
If the fuel tax rebate is considered a fossil fuel subsidy, by the same rational the government
Graham Young lies. He twists himself into a pretzel to pretend that the special tax breaks given to petroleum companies, and fossil fuel users, are not subsidies. No other industry gets these tax breaks and rebates. Ergo, they get special treatment.
Richard Dennis lies. The fossil fuel industry is not subsidised in Australia. Interestingly it is in Norway, his ideal country for oil and gas exploration. He must know this. The National Press Club should be ashamed for lowering their standards to host a deep Green propagandist
