Steve Georganas (Adelaide, Australian Labor Party) Share this | Hansard source

I rise to support this motion because, for too long, Australians have watched as gas extracted from our very own soil, our own national asset, has been sold overseas, while households and businesses here at home struggle with the rising cost of energy. This private member's bill is supportive of the 20 per cent reserve for Australian use. Now you can argue, as we heard the member for Kooyong, that we perhaps could go a bit further. I tend to agree that a 25 per cent export tax would have been a good thing. I've written to the government and to the minister and will continue to talk to my side of politics, because for too long Australia has missed out.

Australians expect one simple thing: that the resources of this country work for the economy, and that's why we're setting aside this at least 20 per cent of Australian gas for domestic use. It's not just good policy; it's common sense. It protects households, it strengthens Australian industry and it builds resilience in the face of global instability. Because when international markets shift, when conflict disrupts supply chains and when prices spike beyond reason, Australians should not be left exposed. We are a resource-rich nation and we should take advantage of it. We should never be a nation struggling to access or afford our own energy. Domestic gas reservation is about fairness, it's about security and it's about taking control of our energy future in moments like this. It's leadership like this that matters. The priority must always be clear: keep fuel flowing, keep costs down, and keep Australians moving. Fuel excise was halved for a period, easing pressure on the bowser and giving households much needed breathing room. Measures were put in place to ensure Australians were not paying inflated taxes on already rising prices, and, importantly, strong action was taken to address unfair practices. Penalties for price gouging were increased, and the ACCC was tasked to ramp up fuel price monitoring and issue on-the-spot fines.

Australians understand price pressures, but they do not accept being taken advantage of, and, for far too long in this nation, the industries have enjoyed incredible profits, pocketing incredible windfalls and profits in this area, and rightly so for their shareholders, for the investments they make et cetera. But we also have to look after Australia. We also have to look after the families who are doing it tough. This particular measure goes a long way in securing our energy needs, and, in fact, I would have gone that step further. We've heard others say in this place, from the government side and from opposition members, that, even though we commend the steps taken, it would have been great to go that step further, and a 25 per cent tax on gas exports alongside that strong 20 per cent domestic gas reservation will place real downward pressure on domestic prices and ensure that Australian gas works for Australian households and businesses.

We've heard and we've seen foreign multinationals making extraordinary profits whilst we miss out, and that's not right. Tens of billions of dollars could be raised for Australia, paying for our hospitals, our roads, our infrastructure, home care for our elderly, education and a whole range of other things. For far too long, we've missed out. This is a great step. It's the first step—securing 20 per cent for domestic use—but I would have gone that step further to ensure that some of these companies are taxed a 25 per cent tax on gas exports. When prices spike and go through the roof, they're making extraordinary profits. That money could raise billions and billions of dollars for Australia.

A strong Australia is one that uses its own resources to protect its people and ensure that no-one is left behind when the world becomes uncertain, as we're seeing now with the Strait of Hormuz being blocked and oil shipments delayed and unable to come through. This is a good measure to put aside gas in reserve for domestic use for Australia.

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