Tammy Tyrrell (Tasmania, Independent) Share this | Hansard source

I move:

That, in the opinion of the Senate, the following is a matter of urgency:

The need to address the damage to Australians' cost-of-living caused by the conflict in the Middle East; proving that Australia needs to reduce its reliance on oil and global supply chains; by properly taxing gas exports; supporting the responsible transition to renewables; and reinstating Helium to the Critical Minerals List.

Ordinary Australians shouldn't be punished at the bowser for a conflict started halfway across the world. Our reliance on oil and our exposure to global supply chains have meant we've seen petrol prices skyrocket. Groceries will be even more expensive from higher transport costs, and Australians are at risk of losing basic healthcare essentials like MRIs.

Tasmanians know that I've been advocating hard for a 25 per cent gas export tax on gas companies. It's outrageous that we raise more from the tax on beer than we do from the multinational corporations exporting our natural sovereign resources. We should be taxing our gas exports to fund our sovereign wealth fund and to have better health care, education and housing. We would raise enough money to fix our debt whilst providing better services and providing cost-of-living relief. The government's excuse that it's scared to get the policy right isn't good enough to deprive Australians of a better quality of life and better economic conditions. We're one of the top three gas producers in the world. We shouldn't have high energy bills. The tax on gas exports should start now and stay in place permanently to benefit generations to come.

But we could also easily expand this 25 per cent tax so that it would be much higher during times of conflict, when the oil price skyrockets and the oil companies earn superprofits. The government should also implement a time limited tax on the windfall superprofits of oil and gas exporters—specifically those generated by the Middle East conflict. Every dollar raised by this tax would be used to make fuel cheaper by reducing the fuel excise. That means cheaper fuel for Australians, funded by un-ordinary windfall superprofits of multinational gas companies. This is a commonsense and budget-neutral solution to the current fuel crisis. With the conflict in Iran causing petrol prices to skyrocket, it is fundamentally unfair that multinational corporations are pocketing record profits from global instability while regular Australian struggle to fill their tanks.

But let's remember that it was One Nation that pushed hard for a war in Iran, knowing full well that such an action would lead to skyrocketing petrol prices for Australian. They hate and vote against solar panel rebates, but then their own leader uses them for her personal residence. Talk about hypocrisy! Maybe it's something to do with making more money for the mining billionaires who fund their party, all at the cost of working Australians. Their priority is the mining industry, not ordinary Australians. My priority is and will always be helping Tasmanians—all Tasmanians, not just the rich ones, not just the white ones and not just the ones in the major cities.

An additional superprofits tax during times of oil price crisis would lower petrol prices and reduce broader transportation costs for food and goods, putting downward pressure on inflation and interest rates. Yes, it would help keep inflation down and keep our interest rates from soaring as we have seen them do in the last few weeks. That means lower grocery prices and lower mortgage repayments. But the conflict in the Middle East hasn't just shown our reliance on oil and driven up inflation; it has also shown the need for sovereign capability for critical resources like helium.

As the President of the European Commission said today, dependencies can be weaponised. Australia is entirely dependent on importing helium, with no domestic commercial-scale production, despite possessing significant geological reserves. This places us in an extraordinarily vulnerable position. Our hospitals, our defence industry, our high-tech manufacturers and millions of everyday Australians who depend on MRI screenings are entirely at the mercy of a volatile global supply chain dominated by a handful of geopolitically sensitive producers. The conflict has caused helium production in Qatar to halt, which supplies approximately 30 per cent of the world's traded helium, causing a doubling of helium prices. If we lose supply, our MRIs stop, our datacentres overheat, and our AUKUS agreement is in jeopardy. Helium meets every reasonable test of a critical mineral. It cannot be substituted. It is essential for defence and health care. Its supply chain is totally vulnerable to disruption, and Australia currently produces none of it domestically. While the government celebrates Minerals Week, we don't even have a critical minerals list that reflects the minerals that Australia needs to survive and prosper. So let's urgently prioritise helping Australians' cost of living. Let's impose a 25 per cent tax on gas exports to fix our debt and provide better services for generations to come. (Time expired)