Quote:
Originally Posted by drylander
Simple answer: higher the price higher the GST component so its in the governments interest for them to remain as high as possible and will only act if it costs votes. Cynical? maybe but works for me as I see no other reason than corporate greed benefiting the government of the day.
Pete
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Some time ago, I was told that when our domestic prices were first pegged to the overseas (Singapore etc) markets, it was agreed to by government as a part of a set of inducements to the major oil exploration companies to identify and exploit Australian reserves - i.e. you find us some oil and we'll let you sell the end product to the domestic punters at the international parity pricing in return. I add this caveat - I have no personal knowledge of this - but I am raising it to see if anyone out there in IIS land does and can confirm or refute it.
Peter