Where does OUR oil go?

[KiwiRat]

That's interesting Shadows thanks for that!

Now let me see: 45,000 barrels per day at $100-00 x 5% Royalty = $225,000 per day x 52 = $11,700,000.00 per year.

Plus the tax take
Plus the 12.5% NZ Oil and Gas make (do we own it or is it a private company?)

mmmmmmmmmm

The news gets better. Or worse.

There are 365 days in the year. Not 52.

$82,125,000.00

[Forest]

Someone was telling me a day or 2 ago how many millions our oil field in Taranaki earns. Now that I need to recall I can't for the life of me remember the figures but they where very large.
Just googled it. 790 million in 3 months or 45,000 barrels a day. Here http://www.stuff.co.nz/4425451a13.html. It does say we own stuff all of it though 12.5% rest is Aussy and Japan. So basically we are only getting the tax off the resource. Now that was a smart move? To late for me to read it thoroughly but that's the gist of it. And we hear nothing about this from Helen do we?? Also whats our overseas debt now per man woman and child or have we totally paid off "think big" never hear about that either just how good our GDP is!!

Taranaki was built back when oil was worth stuff all.

Private companies invested a huge amount to build the extraction infrastructure. They took the risk and it is only fair that they take the profit.

[Racey Rider]

yer but now that it's worth something, surly we can stick some 'Iwi' onto them for a claim!
They seem to do it with everything else!

[terbang]

Filled up the Ute the other day in Jeddah and it worked out at twelve cents (NZ) per litre. Needless to say everyone thunders around in a V8 up there. Filled up my Kiwi ute, which was an overpriced japanese hand me down in the first place and it cost me two dollars per litre. Jeez, $1.88 in freight costs, a modest profit for those that do all the hard work and a bit of local tax. Fair deal eh?
It has a lot to do with ownership, and being tenants in our own country (but seeing ourselves as lords) sort of sums up why yer fuel and chops cost you so much. The price we pay for the privilege of being the little guys dunnunder.

[Reckless]

The news gets better. Or worse.

There are 365 days in the year. Not 52.

$82,125,000.00

Your quite correct good spotting I'll go back and edit DUH!!

Taranaki was built back when oil was worth stuff all.

Private companies invested a huge amount to build the extraction infrastructure. They took the risk and it is only fair that they take the profit.

I agree intirely! I just wish we could do it for ourselves and keep it for ourselves. But I guess we are to small for that. Maybe if we hadn't sold off our forests and all our other earning assets we could? I dunno.

[Edbear]

Filled up the Ute the other day in Jeddah and it worked out at twelve cents (NZ) per litre. Needless to say everyone thunders around in a V8 up there. Filled up my Kiwi ute, which was an overpriced japanese hand me down in the first place and it cost me two dollars per litre. Jeez, $1.88 in freight costs, a modest profit for those that do all the hard work and a bit of local tax. Fair deal eh?
It has a lot to do with ownership, and being tenants in our own country (but seeing ourselves as lords) sort of sums up why yer fuel and chops cost you so much. The price we pay for the privilege of being the little guys dunnunder.

Saw the start of Intrepid Journeys last night. In Lybia Super is NZ.20c per litre, a cup of Espresso, 60cNZ and I didn't quite catch it but he was back-seat passenger in the car doing 180km/h which I think he was told is the speed limit!!!!

[Kittyhawk]

Heard a roumer on talkback today - oil companies overseas are wondering why the mark up per oil barrel is so great here, apparantly its sold for a hell of alot cheaper when it leaves their countries...someone is collecting alot of profit somewhere in the system.

[Maha]

Jeremy Wells in Lybia last night (best intrepid Journey I have ever seen) where petrol is 20c (nz) per litre