Campbell and Shields argue that Norway reaps the rewards from “direct ownership” of oil and gas fields, with global revenue of $46bn from the petroleum industry in 2019 compared with the $1.2bn Australia received from PRRT in 2017-18.

“As a result of the Australian government’s decision to raise little revenue from the exploitation of its oil and gas resources, drilling in the Bight is effectively a no-win proposition for Australia and the communities along its south coast,” the report said.

“While Australians are being asked to shoulder all of the economic and environmental risk of the project, a foreign government is likely to enjoy much of the financial gain.”

via Norway set to gain more from drilling in Great Australian Bight than Australia | Australia news | The Guardian