Labor backs fossil fuels, gas tax push still alive
Get the Energy newsletter
Daily energy & climate — solar, EVs, oil, the policy fights and tech bets shaping the transition. Free.
- Labor plans to back fossil‑fuel industries in the upcoming federal budget, rejecting a proposed gas‑export levy and fuel‑tax credit overhaul.
- Australia Institute calculated that a 25 % levy on gas exports would have generated roughly $70 bn for the Treasury since the 2022 election.
- Ken Henry called for a 100 % windfall‑profits tax on fossil‑fuel companies, echoing calls for greater revenue from the sector.
- David Pocock joins One Nation, Greens and independents in backing the gas tax, with a Guardian Australia poll showing 57 % public support across party lines.
- Colombia will host the first international conference on fossil‑fuel transition, gathering 57 nations to discuss climate‑friendly energy policies.
- France pledged to remove coal from its national grid by 2027, end oil dependence by 2045 and stop using fossil gas by 2050.
Why it matters: The Treasury would gain $70bn from a 25% gas export levy, cutting the deficit, while multinational miners lose untaxed profits and households benefit from lower diesel taxes.
