TIL. Norway taxes oil companies 78% and we only take 5% royalties.
TIL. Norway taxes oil companies 78% and we only take 5% royalties.
That's why they are rich and we are poor I guess.
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14 comments
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If I understand the argument is that we have no expertise in finding and extracting it, so we have to offer bigger concessions to get anybody to do it.
Which sounds like the wrong solution to the problem, but what would I know?
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Maybe nobody should extract it.
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Yeah but then car no go brrrrrr
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Good. Car is noisy and annoying.
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Other than CNG/LPG I don't think any NZ cars have run on what we extract for at least a few decades now (could well be wrong).
Fortunately electric cars exist and they can go whrrrrrrrr instead of brrrrr!
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Also we could probably build enough bio fuel capacity for all the cars to keep going brr in a carbon neutral way for those that are keen on that sort of thing.
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What's the argument for taking such a low cut of the profits?
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14 comments