as well as their non-payment of tax, we have over 60,000 abandoned, toxic mine sites throughout our country.

we pay more to be ripped off than we receive.  what a stupid lot we are!

http://www.abc.net.au/news/2017-02-15/australia-institute-report-raises-concerns-on-mine-rehab/8270558

We have long known that international gas companies are ripping us off but nothing is ever done by governments to change the situation. Why not?

Why not you ask ?? Because all of out governments do not insist upon the clean up !! Because all our governments keep stating .. we need investment ... this is not investment in our country .. this is blatant depletion of our resources .. and Australia does not benefit from it all .. oh maybe a few jobs but thats about it .. WEAK MYOPIC OUT OF TOUCH GOVERNMENT .. with no strength to change the status quo !! 

It will be interesting to see when Labor win the next election what they will do about it;  if anything!

I would not be holding my breath...both major parties will go with the flow.

Like most journalism, there is some truth to this story, but Origin and Santos, two large gas players are hardly large multinationals. They are only listed on the ASX.

My understanding is that the Tax Credits only apply to the PRRT

And these credits include Exploration expeses which are huge.

So PRRT will be payable once these credits are exhausted

Its just a matter of timing of cash flows

The government may not get the PRRT now especially with current low prices ofoil and related products, but should be raking it in when prices go up again or when credits are exhausted over time

So Kika "THERE IS NO RIPPING OFF"

They are merely playing within the rules set up in the PRRT regime

You are correct Raphael.

The rot started with the Howard government which allowed out world class gas assets to be bought by foreigners with nil reserved for Australians.  The we had the Abbott era where the CSG industry put out the propaganda of "no gas" unless they were allowed to destroy undergrounf aquifers with their destructive mining practices.

The reality is that Australia has huge amounts of gas but is is being shipped offshore whilst we are starved and our energy prices are forced through the roof. This impacts our financials as well as that of industry which is competing with the recipients of our gas having lower operating costs than our own.

The current situation is due to betrayal from the Howard and Abbott governments and were this sort of behaviour to occur in the corporate sector those who did it would be before the courts facing lengthy jail terms.  Being government this accommodated intentional betrayal of the nation is tolerated and protected as 'government'.  It should ne be and legislation should be introduced immediately to force exporters to reserve a percentage of the product for Australians at a given (low) cost.  This one Shorten should be running with.