I think we have been encouraged to be a bit more thoughtful in the way we debate, and I would like to absolutely take that up. What I would emphasise to the member for O'Connor is that he and I have very different views on this. I dare say, the member for O'Connor even has different views with himself, from listening to that contribution, because he can't, on the one hand, criticise us for wanting to set up an east coast reservation scheme but then, on the other hand, tell us how good the west coast one is.

There is an absolute need for us to be able to seize the moment—similar to when a WA Labor premier stared down the same sorts of arguments that, I dare say, Member for O'Connor, you have advanced here today, on the terrible things that a reservation scheme would do in the WA context: that it would lead to lower investment; that it would lead to companies going elsewhere; that it would lead to higher prices; that it would create all these problems. Alan Carpenter, who was the then premier, did a great thing not just for Western Australia but for the country as well, in being able to show that we can still have that investment, and those companies can still make their money, but we can look after people who needed to see gas much more competitively priced.

As much as I am an admirer of the west coast reservation scheme, Member for O'Connor, it doesn't always guarantee that there will be a consistent flow back to domestic markets. It's done over a period of time. When you look at the way it runs, you just have to guarantee a certain amount has gone into the Western Australian market, and that's how it's measured, whereas we think there should be something done to ensure that there is a consistent availability for Australians.

On the east coast, as much as it's been pointed out that it should apply, if I've heard you correctly, Member for O'Connor, in terms of new fields, we still have uncontracted amounts of gas. We export an eye-watering 80 per cent of our gas; 20 per cent is left aside for the country. Manufacturers can't get decent contracts out of the gas suppliers, out of these gas companies. They're given short-term gas contracts. When you're told you can only get a 12-month contract for such a critical input, how are you supposed to put up with that? The only reason is for the sheer greed of these companies that want to take advantage of a higher price, potentially, outside that 12-month gap. It's just unacceptable. Those manufacturers should be able to get much better prices. We shouldn't have to see our gas then be onsold when we're begging for it here. We're begging for the scraps, and then we see it onsold in some other markets at incredible rates.

I think of our friends in Japan. I understand their energy insecurity, but it cannot be that (1) they get all the gas that they do and then onsell it to other countries at extraordinary prices and make a huge profit out of it; and (2) talking about another thing which I firmly believe in, taxing gas exports, they say to us that we shouldn't tax gas exports while they tax gas imports. It's not consistent and not fair. So my view is that I stick up for Australians. My view is that we should be able to get a better deal out of this resource that should confer on us huge economic and commercial strength.

This is a very important measure in terms of what the parliament's debating, and it will kick in, based on the way it's designed, in 2028. Even though it's a great start, I absolutely do believe we need to put more downward pressure on gas prices. The fact of the matter is we have to fix a broken PRRT. It's not raising the revenue that it should. We've made some changes, but, frankly, I'm always wanting more. I think we need to be able to see a much better deal, and we're not going to get it out of that PRRT. I think Australians want the best possible return from resources that they own. The ACTU's proposal of a 25 per cent tax on gas exports is estimated to generate $17 billion a year. At a time when finding new revenue streams is pretty hard going, we have to have a serious talk about our options.

We're a resource-rich country. It's part of our national character, our national make-up. We're proud of that fact, but everyday Australians aren't seeing the returns of that prosperity. Instead they're reading headlines about Santos not paying company tax for 11 years. The same company that says to us that we shouldn't have a tax on gas exports because it's a bad idea also thinks it's a good idea not to pay tax for 11 years. I think the hypocrisy of that is just wrong. In contrast, Australians look at their pay slips, and every time they do they see the tax taken out. They do their tax returns, but then they read the headlines about some of these big multinational companies not paying their way and crying out poor. The income of those gas companies is around 580,000 times that of an Australian's real wage, and these big companies are not stumping up. The outrage is absolutely justified.

I'll keep saying a gas tax is a missed opportunity, not a lost one, because as long as we can keep up the noise, the fight isn't over. I've held forums in my local community where people from my part of Western Sydney have told me loud and clear how unfair they think the current state of play is. It's an issue that matters to them, and they're not alone. It's an issue that unites Australians of all political backgrounds. It doesn't matter if you're a Labor supporter, a Liberal supporter, a Nationals supporter, a One Nation supporter, a Greens supporter—everyone reckons we should be getting a better deal on gas. There are so many people that believe we should be taxing gas exports, and it's understandable that they do.

My view is that, with the money, at a time where revenue is tight, I do believe we should be looking to see how we invest that in the longer term prosperity of the nation. We, as I said, are a resource-rich nation, but we've made a lot of money in particular from a lot of fossil fuels. As global warming bites more and more and countries think about what they do to generate energy, the way they use energy and the way they cut their emissions, the longer term challenge for our country is—yes, we can recognise the contribution of those resources in times past, but we have to start thinking about what comes next? When the income starts to decline, how do we think ahead as a country and prepare? We should be thinking about how we invest the money out of a gas tax to build long-term economic growth for the nation. What are the jobs that come next? How do we think differently about how we make our money as a country and ensure that the ones that follow us enjoy the living standards we currently enjoy? That's why I'm a big believer in taxing gas. It's why I will continue to fight for this.

Yes, the case might be made that we can't do it right now, because we're in the middle of a fuel crisis from a war that was launched by Donald Trump, who we're told every week is coming up with another ceasefire that's around the corner or another peace plan—and that the war and the hostilities have ended, yet it continues. The sooner that gets sorted out, the better, but we cannot defer this decision to tax gas and push it in to the never-never. Too many Australians believe that we should get a better return. I agree with them, I stand with them and I will fight for them to make sure that we get a better deal, because we have been ripped off for too long by some of these companies who have made a lot of money off this and whose answer, by the way, is 'if you want lower prices, we have to open new fields'. That sounds like a great proposition until you think the more of these fields that they open—which I don't think we can continue to do. It'll be harder and harder into the future to open new gas fields.

When the big gas companies say that the key to lower prices is to open a new field, that's not for Australians. They will do what they've always done. They will simply open the new field, export the gas at the price that they want, make lots of money, not pay tax to this country and leave us poorer for it and begging for the scraps. At least with a domestic gas reservation plan like what this government has had the guts to do, we can ensure that more Australian manufacturers and households get access to the gas that they need and that we don't see it being shipped off in extraordinary amounts with no gain and no long-term benefit for the country. We absolutely, 100 per cent, can do better. I get tired of hearing the criticisms from many who sidle up to these big firms and say, 'If we do anything that stands up for the country, we'll miss out.' If there are gas firms that are threatening us and saying that they'll leave the country if we dare to stand up for ourselves, see you later. Ta-ta. There'll be another firm that will want to rock up and get this resource. They absolutely will. It's in such high demand and it does play an important role, but we should make sure, for the time that we have access to gas, that we get the better return and that we're not scared off by multinationals using the same playbook they've used for decades to scare governments of any political persuasion.

We should stand up and seize this moment to make sure we get the better return and, as I said, use the money from that to invest in the longer term good of the economy. So many other countries have done the same. They have looked at this. We've often pointed to countries in Scandinavia and the like, where they invested, they took that money and they were able to do better for their local populations. I absolutely have the same view. We should do it. I'm stoked that we are doing this reservation scheme, but the missing piece is a tax on gas exports. That absolutely has to come next, and I'm not Robinson Crusoe on that. There are a lot of Australians that believe the same.