I am writing as one of your constituents to urge you to support legislation introducing a 25% tax on gas export revenue.
Australia is one of the world's largest exporters of Liquefied Natural Gas (LNG) yet ordinary Australians are seeing almost none of the returns. Since July 2022, we have forgone an estimated $69 billion in revenue that a 25% export tax would have raised. That is $69 billion that could have funded hospitals, schools, housing, and cost-of-living relief. Instead it was handed to gas companies for free.
The scale of this imbalance is staggering. Ordinary Australians paid 24 times what the entire gas industry paid in company tax. We are subsidising one of the most profitable industries on earth.
Making matters worse, 56% of Australia's gas exports attract zero royalties. More than half of our national resource is being shipped offshore without gas companies paying Australians a cent for it. Meanwhile, Norway charges a combined tax rate of 78% on profits from its oil and gas, allowing it to build a sovereign wealth fund worth more than $3 trillion for its citizens. Australia now has nearly $1 trillion in debt.
A 25% tax on gas export revenue is modest, fair, and long overdue. It would not stop investment, it would not raise energy prices for Australians. What it would do is ensure that this finite, publicly-owned resource delivers a fair return to the Australian people.
I am asking you, as my elected representative, to support legislation to make it law.
Revenue forgone from gas export tax since 2022
$0B
It's our gas, we deserve a fair return.
The great gas scam.
Multinational gas companies are making billions in profit from Australian resources and paying almost nothing back. Norway taxed their gas and built a sovereign wealth fund worth more than $3 trillion. We're getting ripped off.
Alongside many others including the Australian Council of Trade Unions, Australian Council of Social Service, the Australia Institute and dozens of other organisations, Senator David Pocock is calling for a 25% tax on gas export revenue to deliver a fair return for every Australian.
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The comparison that says it all
Norway taxed their gas. We didn't.
Norway
>$0B
Government Pension Fund Global, the world's largest sovereign wealth fund, built from petroleum tax revenue. Every Norwegian citizen benefits.*
≈ >$530,000 per Norwegian citizen
Australia
–$1,000B
Over $1 trillion in government debt. Little to show from tens of billions of gas exports.
~-$37,000 per Australian citizen
* Norway also carries government debt, but it is far outweighed by the value of their sovereign wealth fund.
Norway's fund keeps growing — ours doesn't exist
$3,000,000,000,000
Estimated value of Norway's Government Pension Fund (live)
The numbers don't lie.
$69B
the amount Australia has forgone in revenue from a 25% tax on gas exports since 2022
The Australia Institute gas tracker
$40–45B
the windfall profits gas companies made in a single year as a result of the invasion of Ukraine
Department of Industry, Science and Resources
24x
Australians pay 24 times as much income tax compared to what the gas industry pays in corporate tax
ATO data
56%
of our gas is sold without a royalty - more than half our national resource, given away
The Australia Institute
Aussies paid more tax on beer
than gas companies paid for offshore gas.
In the current financial year, Australians are expected to pay $2.7 billion in beer excise- while the Petroleum Resource Rent Tax (PRRT), the tax levied on our offshore gas, will raise just $1.5 billion.
🍺
Beer excise
$0B
Paid by Australian beer drinkers
🔥
Petroleum Resource Rent Tax
$0B
Paid by multinational oil and gas companies
Beer excise — $2.7B
PRRT — $1.5B
Figures from Table 3.3 of the Mid-Year Economic and Fiscal Outlook 2025–26.
Interactive calculator
What would a 25% tax on gas exports deliver?
Gax export revenue fluctuates - according to the Department of Industry, Science and Resources, in 2022-23, gas export revenue was $92.2 billion. Drag the slider to see how much revenue a 25% tax on gas exports would generate with diffent gas export revenue, and what it could fund.
$80B
Tax revenue
$20.0B
Annual return to Australians
Per person
$755
Per Australian citizen, per year
Could fund
40,000 homes
At ~$500k avg construction cost
Take a stand
The people vs vested interests.
Chip in now to help us fight the well-funded campaign from industry against us getting our fair share from the export of Australian gas.
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Every dollar. Accounted for.
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Post this text on Socials: Norway taxed their gas and built a $3T wealth fund. Australia didn't and is getting scammed. It's time for a 25% gas export tax. Sign the petition