Some good posts by EF_dave and 4.9_EF_FUTURA. Getting closer to reality.
There seems to be alot of misinformed post here about the tax structure on fuels.
Petrol pricing is quite complicated, but nowhere near as complicated as the OIL price.
I'll quote one of my previous posts (with updates) on the subject as we're just covering the same ground.
Now lets get some facts straight.
Quote:
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Originally Posted by posted by JEM
Some important points to consider...
1. The easy OIL is GONE.
2. We are now NOT discovering new fields at the rate that we were or need to, even with new seismic mapping technology etc. The largest producing fields were all discovered back in the 40's, 50's and 60's. We are by far, consuming more OIL per year than we are discovering.
3. Some of the major fields around the world (Saudi, Kuwait) are now at PEAK and can't be pushed any further. They are pumping so much water (7 million barrels a day) into them to pressurise the field to extend the life of the field but are now bordering on uneconomic fields because the water cut (amount of water extracted with the oil)is approaching 40/50%.
4. We can't just point the finger at the government etc. They are actually doing a lot to help OIL/GAS explorers in Australia, and yes we do have many producing oil and gas fileds here, but as has been mentioned, depending on the age of the structures in the field etc, the composition of the oil is of a certain grade and is suitable for certain things.
5. The federal government have an excise on our fuel of ~38c flat for high grade energy fuel (Petrol, diesel), not a % as some think. The difference between the price of petrol from state to state is a local government initiative + GST. The GST is calculated on the petrol price including the excise portion. That is totally un-necessary.
Petrol and Diesel are in the high grade class as they provide 30+megajoules/ltr.
LPG attracts an excise of 23c/ltr as it has lower rating than petrol/diesel.
Ethanol cheaper excise again, 18c/ltr.
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So moving on... to complicate things even more, you have currencies that affect pricing, you have countries that have fixed/floating currencies which will affect their buying power. You have countries that can aggressivley buy up to increase their own stockpiles of commodities also.
1 post is by far not enough to try and explain how it all works and to convince us all that the governement are almost powerless in improving the situation.