3% Back Santos Sale to Foreign Investors

Australia Institute

53% of Australians say the government should block the sale.

28% of respondents believe the decision should be delayed until the impact of the sale on Australian gas prices is investigated. 16% are unsure.

A group of foreign investors, led by the Abu Dhabi National Oil Company, is seeking to buy Santos. The purchase requires approval from Australia's Foreign Investment Review Board.

"Foreign-owned corporations already control almost all of Australia's gas," said Mark Ogge, Principal Advisor to The Australia Institute.

"Foreign gas companies have a history of prioritising exports over domestic customers, price-gouging Australians for our own gas, and contributing little to public finances. It is not surprising that Australians would reject further foreign ownership.

"Given the high level of foreign ownership of Australia's gas resources, it's hard to see how giving more control to foreign-owned corporations fits with the Prime Minister's philosophy of progressive patriotism.

"The survey shows strong support for an investigation into the impact of any deal on Australian gas prices, suggesting ordinary Australians have a better grasp of the issues than many of our policy makers who didn't consider the price impact of allowing foreign-owned corporations to export almost all of our gas in the first place."

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