Senate debates
Tuesday, 31 March 2026
Bills
Export Finance and Insurance Corporation Amendment (Strategic Reserve) Bill 2026; In Committee
7:18 pm
Matthew Canavan (Queensland, Liberal National Party) Share this | Hansard source
Yes; you're also the investment minister and the tourism minister as well. I realise that, Minister. I hope the minister knows very well what he's signed. The government released a text tonight, I think. I haven't had a chance to look at that. But the government did release a number of fact sheets last week, including one on environment and climate. In that fact sheet, they mention that the government will cooperate with the European Union on ending what is called inefficient fossil fuel subsidies.
It seems a little bit incongruous that just a week ago the government was cuddling up to the European Union, saying: 'We won't subsidise fossil fuel production anymore. We have no need for that.' Last week, when the European Union president was here, it was all about clean energy and this wonderful future of renewable energy that we keep getting promised that will sometime arrive. But then, just a week later, the government is introducing emergency legislation to—guess what?—subsidise the importation of fossil fuels, not from here but from other countries. So what is it? Is the government Arthur or Martha when it comes to the production of fossil fuels? Do they support the production of fossil fuels, or are they lining up with the European Union to say that we shouldn't support it at all?
I'm struggling to work this out. I'm sure that those who do work hard in the oil and gas industries are struggling to understand whether they have the support of the government or not. In one week, the government sign an international agreement saying: 'We're not going to support you. We're going to end support for you.' We just heard that they government are going to 'just transition' away from you. But then, the very next week, they're rushing in emergency legislation to do the exact opposite. So the question for the minister now is this: does the minister remain committed to the agreement that was signed with the European Union to end fossil fuel subsidies? If so, how does that provide any certainty to those that would seek to use this legislation to bring in fossil fuels to the country? If you're committed to not supporting them, how can they trust you to support them with long-term contracts which reduce the risk to them in importing fossil fuels?
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