As discussed in the primary thread on this topic ( www.abovetopsecret.com...
) there will be no savings at the pump for
ordinary Australians if the moneyed decide to exploit this resource. All of our oil goes through the markets in Singapore and is sold back to the
Australian consumer at a "fair" price based on the Singapore domestic fuel prices. Obviously, once the various middlemen and colluding retailers
have taken their cut, there are no petrol price savings to be had - unless you utilise the insidious discount voucher system which is designed purely
to cement the Coles/Woolworths grocery duopoly at the expense of smaller, more local competitors. As the fuel prices increase, Coles and Woolies see
increased profits on their highly processed foods as well as their pesticide-laden "fresh" foods.
One could argue that increased employment in the oil sector is good for the economy. So it is, but as we have seen with the mining sector, unless
you're working in that sector the economic goodness is little more than numbers on a screen which politicians and corporate boards like to bandy
This wonderfully rich shale oil field will be a license to print money for the corporate types but any tangible benefits will go offshore. I say let
the corporations find these things and begin to exploit them, then nationalise the project (with compensation set at cents on the dollar), unplug
Australia from the Singapore markets and if we must use fossil fuels, then use Australian fossil fuels set at domestic Australian prices, tax it so
that petrol costs a very reasonable $1 per litre at the pump and use the revenue to fund renewable energy programs. Hell, I'd pay double that if the
tax was going towards building something other than some corporate's empire.
It'll never happen of course.