Given [1] and [2] Australia is exporting a little less than what it's using. The loss of refineries due to ageing is most likely why once again Australia is exporting raw product and paying a premium to ship the finished product back, though from [3] it would seem our natural mineral crude has its days numbered.
If I were to be annoyed with anything and take issue with, it was the dog and pony show 30 - 40 years ago in regard to moving towards producing ethanol, in particular from sugar cane which was once a prolific and hardy crop that used to grow along much of the North Queensland coast down to Central Queensland ... but there are those with hands on the reins which are heavily invested with crystal sugar production and make $$$$ even if sugar is sold below the production costs of farmers and millers alike. Was a prolific crop is the right phrase, once cane land offered a near unbroken scenery, but a significant proportion of that cane land is now cattle land ... or housing in my region.
I too am more familiar with those who've bought into an area, fixed and sold up as they moved on when their job finished or a better opportunity arrived. I also know there are folks who have had the means albeit slowly, to slowly buy a couple of properties for investment purposes over the years and often rent out. Of course they do from time to time sell off some properties. The changes I think target those who are prominently buying and selling properties as a livelihood, most likely those have been fortunate to have hundreds of thousands spare to take on a number of projects over decade long periods
[1] https://www.ceicdata.com/en/indicator/australia/crude-oil-ex...
[2] https://www.theglobaleconomy.com/Australia/gasoline_consumpt...
[3] https://www.ga.gov.au/aecr2025/oil
> In 2023, nearly 80% of all oil production was from offshore fields on Australia’s North West Shelf (Northern Carnarvon, Browse and Bonaparte basins), this included condensate produced from a few large gas fields. Australia’s domestic crude oil production continues to decline rapidly, and without new commercial discoveries, production is projected to cease within the next 7 years.
The exactly balance of export and usage is not that important. The oil companies should be forced to supply Australia first at a reasonable capped amount, and show some loyalty to their hosts.
This sort of short term profits before loyalty to our country is what is ruining the country in so many ways.
Certainly fuel pricing is important, but I doubt the oil industry would ever sell it at a vastly discounted rate ... pretty much the mantra of any international company has been along the lines of seeing just how much the suckers here will pay.
I would add that I've noted there's been a sharp decline of camper vans and caravans travelling the roads when I've headed down the highway - it means less money from tourism as well as agriculture and only next year will the bigger picture begin to emerge. It's a pity we didn't have a large cane ethanol industry that had been growing from the 90s, and a portion of us driving vehicles with imported Brazilian engines [hmm] running ethanol that can be bought at the bowser cheaply.
Regarding domestic markets competing with higher world prices: In Queensland the state govt of the time, a few years ago now, placed higher royalties < xx iirc 5 xx> 6 [1] different rates dependant on the sale price of coal. They did this after the price of coal soared to all time highs for world markets and Fat Cat Coal decided the domestic market should compete with global prices ... they're still spitting chips about the govt's response, running ads against the govt claiming world's highest whatever whine whine ... but fair dinkum price equals a fair dinkum royalty ... gouge price sets a nice fat royalty rate :)
Regarding the import export balance, agree that it's not that important, there's already been a decline in crude oil output from our oil fields and what is concerning is the lower projected quantities Australian oil field are expected to produce ... of course reading a good comment [2] and fortunate to get an equally informative reply to a question I had about vegetable oil, mentioning the amount of renewable fuel being refined in California ... it should be possible with a bit of direction and effort to increase vegetable oil production within Australia and modernise a refinery that's facing decommissioning eg [3]
[hmm] ... because car manufactures screamed blue murder the US built ones don't run properly on ethanol
[1] https://qro.qld.gov.au/royalty/calculate-mineral/rates/
[2] https://news.ycombinator.com/item?id=47968313
> Fun fact: over 70% of diesel sold in California is now renewable or bio diesel
[3] https://en.wikipedia.org/wiki/Lytton_Oil_Refinery
> Certainly fuel pricing is important, but I doubt the oil industry would ever sell it at a vastly discounted rate ... pretty much the mantra of any international company has been along the lines of seeing just how much the suckers here will pay.
Many other oil producing countries for oil companies within their lands to sell at a reduced price. Examples include all the mid east oil producers, Venezuela and previously America.
Doing actions like this to control the market is the responsibility of governments, they write laws, they can force anythign they wish. Big oil isnt going to leave AU even if they sold petrol at half of todays price they are still making a killing. A lot of half is still better than all of nothing.
> it means less money from tourism as well as agriculture and only next year will the bigger picture begin to emerge.
Tourism is a suckers market, we tax payers get the bill for big items like airports.
These days when you try too hard you actually end up losing, just ask tourism busy places like Paris or Barcelona.
Yes, moving from $1.10 nil tax, to approx 2.80 nil tax per litre means the fuel companies are making a killing. But oh those oil executives would certainly be amongst friends in the Fat Cat Club here in Australia which has half the press at their disposal ... possibly some in govt as well and the mere suggestion of forcing or interference would cause a din we wouldn't quickly forget.
As for tourism and our tax dollars at work ... well airports were going to happen up our way regardless of tourists given the long distance some of the locals have to travel from time to time. However it is true of local council rates, in my region at least of all -- countless hundreds of thousands spent building features to give tourists something to stand next to and take selfies, reworking a handful of inner city streets to beautify them as a tourist draw card and opening the doors for development for high rise hotels to try and corner the convention market ... in the mean time little to help caravan parks still struggling on or creating suitable caravan parking at various places throughout the town ... but it does now have a ring road so the savvy caravaner / traveller can bypass it and continue on to the next truck stop / service station.