Australian Greens Senator and Chair of the Select Committee on the Taxation of Gas Resources, Steph Hodgins-May, has today invited the CEOs of Santos, Woodside, INPEX, Chevron, Shell and ConocoPhillips to front the select committee exploring a 25% tax on gas exports ahead of the budget in May.
Australian gas companies are poised to reap windfall profits from conflict-driven global price spikes. Even before these increases, a 25% export tax was estimated to raise $17 billion a year.
If the invitation is not accepted, committees have the power to order a witness to appear. If a witness is summoned and fails to attend it can be treated as a contempt of the Senate, which can be punished by a reprimand, fine, or imprisonment.
Inquiry hearings will be 20-24 April, with two hearings in Canberra and one in Perth.
Information about the committee membership and terms of reference can be found here.
As put by Chair of the Gas Export Tax Select Committee, Greens Senator Steph Hodgins-May:
"Big gas corporations are cashing in while energy prices soar and households are being squeezed from every direction.
"The CEOs of these profiteering gas corporations need to front the inquiry and explain to the Australian people why they're taking our gas and selling it offshore for record profits, while paying almost no tax.
"This inquiry will drag gas executives into the spotlight and make them answer for years of ripping off the public.
"These companies are set to rake in blood-soaked war time profits, while the rest of us are paying through the nose at the petrol station and supermarket check out.
"The era of Labor letting big corporations write the rules and make obscene profits has to end.
"The free ride is over. This inquiry will build the case to finally rein in profiteering gas giants and put money back in the pockets of Australians, not gas executives."
