Energy bosses warn as calls for gas tax grow

At AusNewsLanka, we aim to keep the Australian community informed with timely updates.

Pressure is mounting on the Australian government to rethink its gas export rules, with fresh calls for a new tax on overseas sales.

New analysis from The Australia Institute suggests a 25% export tax could generate nearly $350 million per week, or around $17 billion annually.

Economist Richard Denniss said the current system is costing Australians, arguing stronger taxation could better fund essential services like schools and hospitals.

The proposal has gained broad public support, with backing reported across the political spectrum.

At the same time, global tensions particularly disruptions linked to the Strait of Hormuz have raised concerns about energy security. Some experts say boosting local gas reserves and investing in renewables could help Australia manage future shocks.

However, major energy companies are pushing back. Industry leaders warn that new taxes or stricter rules could reduce investment, hurt smaller producers, and weaken Australia’s position in global energy markets.

Executives from companies like Chevron and Beach Energy say policy uncertainty could drive investors elsewhere and disrupt supply.

The government is also considering requiring exporters to reserve more gas for local use, but critics argue this could distort the market and put supply at risk.

The debate highlights a growing challenge balancing national revenue, energy security, and industry stability.

Source : 9News

Stay tuned with Aus News Lanka – the leading platform for news for Australians.