Ted O'Brien (Fairfax, Liberal Party, Shadow Minister for Climate Change and Energy) Share this | Hansard source

We've seen in this budget the typical form of the Albanese government—big on propaganda but very light on policy and light on detail. We very much look forward to seeing over time the detail that lies behind a lot of the policy announcements in the budget. Meanwhile, I do have a series of questions that I'm sure the minister would like to answer in detail.

Firstly, investment in Australian resources, especially gas, has stalled following the government's continued interventions into the market, and the same has occurred with renewables now. How will Australia attract the capital needed to power Australia into the future while the government's policies are impeding foreign direct investment? AEMO's Gas statement of opportunities has forecast potential shortfalls every winter for the next three years out to 2026. Repeated ACCC reports have revealed that shortfalls are a real possibility. Based on industry advice, we are now seeing problems also in Western Australia that previously were far more prominent on the eastern coast. When will the government take the looming gas shortages forecast by the experts on both the east and west coasts seriously and reverse its anti-gas policy suite?

The government continues to tell Australians that renewables are the cheapest form of energy but fails to acknowledge the total system costs, which are what people ultimately pay for through their energy bills. When will the government come clean about the total system costs associated with its energy plan and tell the truth about its related policies, its impact on the cost for consumers and how those costs continue to skyrocket? With Liddell shutting down, Kurri Kurri being delayed, Snowy 2.0 pushed back and investment in renewable generation stalling, what is the government's plan to keep the lights on? What steps has the government taken to ensure sufficient, fit-for-purpose energy generation will be online in time for when the Eraring power station permanently closes in 2025?

Will the government continue to steamroll regional communities to meet its arbitrary political target of 82 per cent renewables by 2030? And will it guarantee that it will properly engage and consult with impacted households before rolling out its plan for 22,000 solar panels a day, 40 wind turbines a month and up to 28,000 kilometres of transmission lines? How do the new-found powers of government to declare transmission lines of national significance reconcile with increasing concerns on the part of regional communities that they are being steamrolled over in the government's rush to carpet Australia with transmission lines? Given investment in renewables is not keeping pace with the targets, with the commitments of the government, as evidenced in the first quarter of 2023, what is the government doing to ensure existing energy generation stays open until like-for-like replacement is ready, to avoid an energy shortfall?

The government has put itself at the centre of the gas market and can now dictate how much gas can be sold, to who and at what price. On top of this, the government has hit the sector with one of the world's most punitive carbon taxes. It plans to increase the PRRT and introduce a mandatory code. It's funded green activists to wage green warfare on gas companies and ripped out funding from the budget for gas exploration and pipelines, and around $250 million for CCS. If the government claims to support gas as a transition fuel, which one of these policies has resulted in more gas supply coming to market? What substantive policy measures has the government taken to reassure our trading partners that Australia continues to be a safe place to invest in light of the damage that the government's energy policies have done to Australia's reputation, evidenced by public statements made by senior government officials and industry leaders from countries including Japan? Investment in Australia's resources, especially gas, has stalled following the government's continued interventions into the market, and the same has occurred with renewables. How will Australia attract the capital needed to power Australia into the future while government policies are impeding foreign direct investment? Why is it that government policies in this area continue to be driven by the government's ideological proclivity?

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