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Norway turned oil into a trillion-dollar fortune. Why didn't Australia?

Source: sbs.com.au sbs.com.au
News Snapshot:

With the federal government ruling out higher taxes on gas exports, a long-running debate has resurfaced over who should benefit from Australia's vast natural resources — with Norway held up as the benchmark.Critics of Australia's private sector-led resources sector argue Australians are not receiving a fair share from publicly owned minerals and gas, most recently pointing to claims that Australia's natural gas is being sold for "cents on the dollar".The industry rejects this, arguing it is the country's largest corporate taxpayer and a key contributor to jobs, regional economies, and major infrastructure.SKIP ADVERTISEMENTAt the centre of the debate is a…

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