Hanson lashes gas tax ‘vandalism’, reveals energy plan
One Nation leader Pauline Hanson slammed calls for more regulation of the gas industry and described a campaign to tax exports as harmful.
In his speech to the Australian Energy Producers Conference in Adelaide, Senator Hanson outlined plans to reduce oil and gas exploration to increase Australia’s sovereign wealth.
The policy, similar to that implemented in Norway, would include a 30 percent discount on oil and gas exploration in Australia.
In return, the Commonwealth will receive a financial stake of up to 30 per cent in oil and gas projects, with profits directed to a sovereign wealth fund.
The government’s share of the extracted gas and oil will be directed to fertilizer, fuel refining and energy production.
The oil resource rent tax will be abolished and replaced with a copyright system.
“This flexibility will maximize value for Australians while encouraging industry participation,” Senator Hanson said.
“One Nation will ensure that the (sovereign fund) board consists only of industry experts who have achieved success in the oil and gas industry, and not government-appointed bureaucrats.”
One Nation leader slams campaign to impose unexpected 25 per cent tax on gas exports
“These activists just want to destroy our gas industry and advance the green agenda scam. This is nothing but economic vandalism,” he said.
“The tax would apply to the total value of all gas exports and would devastate the economy of the entire sector. That is their aim.”
One Nation MP Barnaby Joyce said the party’s plan would allow Australians to become partial owners of the country’s natural resources.
“That’s what the Australian people want. They want some kind of ownership,” he told reporters in Adelaide.
“This will be positive for the Australian balance sheet.”
But Resources Minister Madeleine King said Norway’s position was very different to Australia’s, with most of its east coast gas supply coming from fracking and coal seam gas.
Norway has very few onshore natural gas resources.
“For one Nation to arbitrarily pick parts of another nation’s system… just shows a lack of knowledge about our gas system and apparently our political system,” he told reporters in Perth.
Opposition Leader Angus Taylor said he would not support any additional charges against the industry.
“I just saw the policy, but let me say this, I do not support more taxes on oil and gas, which I think is part of this policy,” he said.
However, Senator Hanson said the plan would focus on investment, not a “takeover” of the sector.
Earlier, speaking at the Adelaide conference, Mr Taylor called on the industry to be more vocal about government policies in the sector.
“You need to start making noise. You need to use every campaign tool at your disposal, especially social media. Push back against those who criticize you,” he said.
“We’re going to have to fight like hell. That’s where we are right now.”
Mr Taylor, who wants all net zero targets to be scrapped, used his budget response speech at the beginning of May to call on the government to increase fuel stock levels from 30 days to 60 days.
He said the coalition would allow smaller oil and gas companies to be encouraged to pursue exploration activities.
“Australia needs an abundance of energy. We should be busy digging and drilling, but we have a government that is not interested in that,” he said.
The coalition will also build an $800 million fuel security facility to increase storage capacity, with a focus on diesel.
It wants to speed up project approvals, especially for drilling projects in the Bass Strait.
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