Greenpeace Australia Pacific has welcomed reports that Prime Minister Anthony Albanese’s department is considering options to tax the profits gas companies are making from the war in the Middle East, praising the move as strong leadership in a time of war, climate disruption and a cost‑of‑living crisis.
David Ritter, Chief Executive Officer at Greenpeace Australia Pacific, said:
“The Albanese Government deserves due credit for standing up to gas corporations like Woodside and Santos as Australia faces a cost-of-living crisis, created by dependence on fossil fuels like gas.
“For years, rent-seeking gas companies have used every geopolitical shock as an excuse to demand more subsidies and more approvals for expansion, while paying little or no tax. Not only is it economically unjust that gas executives profit while communities pay the price for spills, abandoned infrastructure and climate damage, it is also morally reprehensible.
“A well-designed tax on gas corporations is a vital circuit‑breaker that could help Australians while holding polluters accountable, and it’s heartening to see this government moving in this direction.
“When considering next steps, the Government must be careful to avoid the loopholes and weak settings that have rendered the Petroleum Rent and Resources Tax ineffective. We need strong tax settings that channel the gas industry’s war profits into helping people and communities.
“From Ukraine to Iran, every recent conflict has been a cash grab for oil and gas giants, who pocket windfall war profits while people at home are smashed by soaring fuel and power bills.
“By making gas corporations pay their fair share and investing in home-grown renewables and green exports, this government can protect Australians from the next fossil‑fuel‑driven shock while shoring up our energy security and accelerating regional decarbonisation.
“Fairer taxes on gas corporations must be accompanied by stronger government support, accelerating the growth of clean industry.
“In my home state of Western Australia, where the gas industry has historically been a big player, there are all the ingredients needed to become a powerhouse in industries such as renewable‑powered hydrogen, green metals and clean manufacturing, which will create secure jobs and reliable energy for our trading partners without the climate pollution.
“Greenpeace Australia Pacific calls on gas corporations to lean into the prospect of a tax on war profits, rather than close ranks to protect their ill-gotten gains at the expense of the Australian people.”
ENDS
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