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7 comments on Record oil price sparks call for petrol rationing
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The question will be how the industry responds. Just like negative gearing , at some point you want to make a net gain on the investment and tax breaks or not you still have to be reasonably sure of finding the stuff in big enough quantities. I would have thought that $100 bbl would have provided enough incentive. Am I missing something?
I also can't quite reconcile KRudds greenhouse chest thumping with a committment to make coal mining and delivery to China more efficient meaning more of the stuff even faster (the so-called infrastructure bottlenecks); this oil exploration tax deal and the $500M Aussie Hybrid car which will save exactly zero in GHG emissions and do nothing for overall oil consumption in this country.
I didn't mean to imply any meaningful difference will be achieved - just that the appropriate political contortions are underway to avoid later undeserved scapegoating by the opposition.
And I certainly don't have any sense that Labor is going to be much better about greenhouse emissions than Johnny was - at this point they are just making lots of good noises but with no real promise of follow through - its business as usual for the coal industry...