(AustraliaMatters) Today Australian petrol prices are breaking the $1 per liter barrier as Brent crude oil (the good sweet stuff) prices keep sliding downward. Trouble is if crude dropped to $20 (not likely) a barrel, we’d still be paying around $1 per liter.
Some ass clowns in the government that never thought crude would ever go below $50 a barrel again, decided to have a fixed 38.6 cents per liter tax on fuel.
So today for every $1.00 liter of fuel we buy, we’re paying 38.6% per liter tax. How bloody ridiculous.
Fuel tax should be a percentage of the product in the same way we pay a percentage for other important products such as milk and bread.
Regardless of how low crude goes internationally, we’ll never see 55’ish cents per liter fuel again like it was before that illegal 2003 Iraq invasion.
Over 12 months, a ship that otherwise would have moved two or more loads from point A, to point B, will instead be parked doing squat.
Would it be lawful for a consortium of taxi companies to hire and park all buses away — then crank up taxi fair prices? ACCC would have a fit.
Parked oil tankers create artificial scarcity – Crude will eventually go back to $100+ a barrel, but not because of a “peak oil” shortage — rather corrupt price fixing that those like ACCC won’t blink an eye over, and an agenda to have us all “drive less” yet pay more because billionaire Al Gore won’t tell us ice caps on Mars are melting because of the sun we share.