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There's no shared resource. It requires risky exploration and investment in extraction. Do you really think the 25m Australians can afford to gamble on hundreds

There's no shared resource. It requires risky exploration and investment in extraction. Do you really think the 25m Australians can afford to gamble on hundreds of billions on LNG terminals? One bad investment or a big drop and the whole country is bankrupt. Currently private sector and foreign business takes the risk. Then Australia gets a share of the profits through royalties and taxes as well as the labour income through employment of workers.

shawnz 8y ago
> It requires risky exploration and investment in extraction. Which represents a tiny amount of value compared to the energy stored in the oil.
simonh 8y ago
>Currently private sector and foreign business takes the risk. Australia provided mineral exploration incentives of $31m for 2018/19 at the tax payer’s expense, to mitigate that risk. https://www.financeminister.gov.au/media-release/2018/06/26/31-million-allocated-mining-exploration-incentive https://www.financeminister.gov.au/media-release/2018/06/26/...