Resources In Australia Need to be Nationalised
The land which each one of us stands on is enriched with resources that the average person sees no benefit from. Hundreds of billions of dollar's worth of iron, oil, gas & rare earth minerals are exported overseas to be processed by exploited lower waged workers in countries like China, Japan, Singapore & Korea, while multi-national corporations pay little to nothing in federal tax as they lay off manufacturing workers in Australia. Our liquefied natural gas is abundant, yet the gas industry in this country (which is controlled by multi-national corporations such as Chevron, Exxon, Woodside and Shell) pay no royalties on more than half the gas exported, totaling up to $149 billion. This is a robbery of the workers & First Nations of our country by mainly British & American owned corporations. These public resources could be used not just to relieve energy costs for everyone, but also to build up our productive capabilities for the people’s benefit.
The vast majority of resources in Australia are under the ownership of companies controlled by the “Big Three” in finance capital: BlackRock, Vanguard & State Street Global Advisors, who collectively manage over $30 trillion in assets & make up the largest shareholder in around 88 percent of S&P 500 companies. BHP, the largest mining company in the world, once known as the “The Big Australian” & controls 27 mines in Australia, is now owned by these American-based financial firms. Multi-national corporations ownership over national resources is not just exploitive but, because of private profit motives, can quickly become a security risk to the people's well-being during an international crisis.
On the 28th of February 2026, The United States and Israel launched surprise attacks on Iran during negotiations regarding Iran’s nuclear program, creating the conditions which the International Energy Agency would describe as the "largest supply disruption in the history of the global oil market". The Israeli/US air strikes would target military bases, government buildings, energy infrastructure, schools, hospitals and would result in the assassination of Iran's leader Ali Khamenei & thousands of civilian casualties including 120 school children in the US strike on the Shajareh Tayyebeh Elementary School.
In retaliation, Iran launched hundreds of drones & missiles at Israel, US military bases and oil facilities of neighboring countries who hold and aid US bases in their borders. Iran would expand its sovereignty and enact a blockade of transport ships enter or leaving the Strait of Hormuz through which around 20% of the world’s oil trade passes.
Within a month, the price of unleaded fuel in Australia went up from 202.4 cents/litre to 258.8, leading workers into a harsher financial struggle as the cost of living continuously
expands. The Australian government would announce that they are dangerously low on fuel reserves with only 30 days' supply left.
The concentration of wealth in the death grip of a few elites is the leading cause of the continual crisis in our economic system. The Republican Workers Party firmly stands against the increasing concentration of ownership of land & resources into the hands of foreign financial business interest whose theft & destruction is clear to see. We stand for the working people's ownership & control over their workplaces, the government, the land, & our resources for the benefit of all people.