The Chamber of Minerals and Energy WA (CME) is deeply concerned by media reports the Australian Government is considering the introduction of a new tax on gas exports, as well as further changes to the Petroleum Resources Rent Tax (PRRT).
The Australian oil and gas industry paid a record $21.9 billion in taxes and royalties in FY25 and was the country’s second biggest taxpayer after mining.
The sector has also invested $400 billion in Australia since 2010, building projects that have created and sustain thousands of jobs while supplying the nation with reliable and affordable energy.
CME Chief Executive Officer Aaron Morey said the unfolding crisis in the Middle East underscored the critical importance of encouraging ongoing investment in new Australian oil and gas projects.
“Australia is currently being shielded from global gas shocks because we’ve attracted long-term investment into supply,” Mr Morey said.
“Increasing or introducing new taxes would scare that investment away – and leave families and businesses facing much higher bills for their gas and electricity.
“At exactly the moment we need more gas, not less, this would dramatically escalate sovereign risk. To address this, the Government should immediately rule out any changes.
“You don’t protect households by scaring off the very investment that underpins supply. And you don’t damage domestic energy security in the middle of a global energy crisis.
“Companies have choices. If Australia looks risky, they will simply invest somewhere else – and we miss out on the supply.
“We have benefited enormously from being seen as a stable, reliable place to invest. This kind of intervention risks undermining that reputation and damaging the living standards of future generations of Australians.”
Media contacts:
Josh Zimmerman j.zimmerman@cmewa.com / 0404 947 719
Natasha Mutch n.mutch@cmewa.com / 0435 383 382