The Conservation Council of WA (CCWA) has supported the call for a 25% levy on gas export profits, saying it “would be a first step in getting a fairer deal for all Australians and funding the transition to a safer, cheaper renewable energy future”.
CCWA Executive Director Matt Roberts said the gas sector has been making huge profits from polluting our climate and was now enjoying increased profits off the back of war and conflict, including double-digit spikes in share prices.
“Our politicians like to talk about a lot about a ‘fair go’, but how is it fair that these fossil fuel companies and investors are raking in profits from our resources, while driving the cost-of-living pressures and climate disasters impacting everyday Australians?” Mr Roberts said.
"As the devastating war in Iran sends gas prices soaring, companies like Woodside are set to pocket windfall profits — while ordinary Australians are paying the price.
“A levy could raise an estimated $17 billion per year to help fund clean energy infrastructure and cost-of-living relief.
“Fossil fuel lobby groups are attempting to use corporate bullying and scare tactics to protect their super profits, but Australians from across the political spectrum are seeing right through it. After all, it only takes a trip to the petrol pump to see that fossil fuels are expensive and unreliable.
"Additional tax revenue is only the first step in protecting the Australian economy from the gas industry - the next step is for the federal government to stop approving new gas projects.
“Both in Australia and overseas, bringing more gas supply online only locks in dangerous, expensive fossil fuels, while slowing down the renewable energy transition.
"Right now, Woodside is seeking approval to drill 57 gas wells at Scott Reef off WA’s North West coast as part of its Browse gas project.
"But independent modelling from the Institute for Energy Economics and Financial Analysis (IEEFA) suggests that not only is Browse carbon-intensive: It's also unlikely to be competitive domestically or internationally.
“In fact, Browse gas would likely be four times more expensive than WA's existing domestic energy supply, and cost-prohibitive for WA businesses.”
"On top of all of this, climate change is costing Australians through devastating impacts on the natural environment and communities. From coral bleaching to algal blooms, from drying forests to failing crops, from floods to droughts. We are paying for it through insurance premiums, and loss of business and homes in the face of natural disasters which are becoming more frequent and intense."
"Amid chaotic global energy markets and environmental devastation, it's never been more urgent that we stop approving new fossil gas developments and accelerate the transition to clean, cheap renewables like solar.”
ENDS
Media contact: John Cooke – 0433 679 780