The gas boom is on but the riches for Australia are far from assured

THE SYDNEY MORNING HERALD
Heath Aston
15 October 2016

Chevron's environmental impact statement, presented to Turnbull in 2007, made the bold claim that revenues from Gorgon alone would generate so much wealth it could allow the government to cut personal taxes.

But, as the production phase continues, there are worryingly few signs of the promised riches materialising via the Commonwealth-administered petroleum resource rent tax – the only royalty-like payment incurred by LNG projects that operate in Commonwealth waters.

> Read more: http://www.smh.com.au/federal-politics/political-news/the-gas-boom-is-on-but-the-riches-for-australia-are-far-from-assured-20161013-gs1u8p.html