SYDNEY MORNING HERALD
17 November 2015
Australia's mining boom has been read the last rites and its coffin is being lowered into an open-cut pit somewhere. But when it comes to liquefied natural gas, the boom has only just begun.
About $200 billion in investments across five major gas projects will come online by 2018.
And yet a tax that is supposed to steer some of the vast wealth being tapped off our coastline to the public purse remains anchored at less than $1.5 billion a year – what one former ATO official describes as a "Mickey Mouse tax".
When it comes to multibillion-dollar resources projects, the picture is always complicated, but consider this: by 2018, LNG will be worth $60 billion and eclipse iron ore as our biggest single export. The public's slice, via the PRRT, will be $1.4 billion.