With a huge majority and a climate-friendly Senate, this government is in an optimal position to stop the expansion of gas and coal and to plan a phase-out.
Australia Institute research shows:
- The North West Shelf project has caused WA gas and electricity prices to triple since it was granted access to domestic gas in 2020.
- The extension will see around $215 billion worth of gas given away royalty-free.
- No gas exporter has ever paid petroleum resource rent tax and most pay zero royalties.
- Gas exporters have made $100 billion in windfall profits exporting Australian gas since Russia's invasion of Ukraine.
"This term of parliament will not be about politics, it will be about Labor's priorities," said Rod Campbell, Research Director at The Australia Institute.
"The government can use its historic majority to prioritise expanding the export gas industry, or it can take real action on climate, protect the country and its people.
"The government has an opportunity to lead the world and start Australia's journey to real zero emissions.
"The Federal Government's decision to approve the expansion of the North West Shelf gas export project shows where its priorities are.
"This was a major opportunity for this government to show what it stands for. Does it stand for foreign-owned gas corporations or everyday Australians, our environment and our climate?
"In approving the NWS extension, the government has opted, once again, to put big gas ahead of Australians.
"Voters who put their faith in Labor to do the right thing for the climate must be feeling bitterly disappointed today.
"This expansion will do vast damage and deliver almost no benefit to Australia or Australians.
"For a government re-elected to take meaningful action on climate change, expanding the nation's biggest fossil fuel project for another 50 years is a dreadful way to kick off its second term."
