With a huge majority and a climate-friendly Senate, this government is in an optimal position to stop the expansion of gas and coal and to plan a phase-out.
Australia Institute research shows:
- The North West Shelf project has caused WA gas and electricity prices to triple since it was granted access to domestic gas in 2020.
- The extension will see around $215 billion worth of gas given away royalty-free.
- No gas exporter has ever paid petroleum resource rent tax and most pay zero royalties.
- Gas exporters have made $100 billion in windfall profits exporting Australian gas since Russia’s invasion of Ukraine.
“This term of parliament will not be about politics, it will be about Labor’s priorities,” said Rod Campbell, Research Director at The Australia Institute.
“The government can use its historic majority to prioritise expanding the export gas industry, or it can take real action on climate, protect the country and its people.