Given that the Balipod forum has been somewhat quiet of late I trust I might be forgiven for this post which has only a tangential relevance to Indonesia. On the other hand the manipulative power of multi nationals getting resources at ridiculously low prices is of concern to Indonesia which has resources but may have to rely on foreign interests for development of resources.
Australia is rich in LPG but instead of using this fuel resource to be the basis of our own energy needs, for the past couple of decades we have seen massive quantities of LPG taken off shore and for a fraction of its real value. This is highlighted again today by the on line news source The New Daily.
"The government’s December budget update predicts petroleum resource rent tax revenue of just
$1.15 billion this financial year, revised down from the $1.4 billion expected in the May budget.
It has pencilled in only $1.15 billion for each of the next three years.
Qatar, which exports
about the same amount of gas as Australia, is said to have totalled
more than $20 billion in 2018."
And this at a time when the overall economic downturn for Australia with fallout from the Corona virus makes our lack of management skills even more infuriating. For those interested in the full story:
https://thenewdaily.com.au/finance/finance-news/2020/02/18/lng-producers-tax-revenue/?utm_source=Adestra&utm_medium=email&utm_campaign=Morning%20News%20-%2020200219
