Today I announced One Nation's policy to get Australians a better return on the Commonwealth's gas and oil, our natural resources at @au_energy_prod
We want more gas extracted and more money given back to Australian's future wealth.
One Nation would partner with the oil and gas industry rather than treating it as an enemy, with the aim of increasing exploration, development and production of oil and gas
Under the policy, the party would introduce a 30 per cent rebate for genuine oil and gas exploration in Commonwealth waters, while giving the Commonwealth Government the option to take up to a 30 per cent equity stake in any production licence.
This would mean real ownership of Australia's natural resources by the Australian people.
Rather than acquiring ownership by force, the government would pay its share of costs as a joint venture partner and receive a corresponding share of production.
To manage these interests, One Nation would establish a special investment vehicle called the Australian National Wealth Investment Corporation (ANWIC), which would hold the government’s resource stakes and be tasked with making decisions for the greatest benefit of Australians.
Government would receive their proportion of oil and gas which could then be directed to the domestic market, used to support critical industries such as fertiliser, energy and smelting, or sold into export markets to help reduce government debt.
ANWIC would be overseen by a board made up of people with proven oil and gas industry experience, rather than career bureaucrats, and the Commonwealth would remain a non-operating partner while private-sector experts continued to run projects.
The policy would also allow ANWIC to invest in existing projects, but only on commercial, arm’s-length terms, with the government paying its way as in investment rather than taking over projects.
In return, the Commonwealth could choose to receive either its share of profits or physical gas supply, giving it the flexibility to support domestic manufacturing when needed or benefit from selling at high international prices.
One Nation argues this approach is even better than a domestic gas reservation policy, which can be blunt and inefficient. We also reject proposals for a 25 per cent gas export tax, because this measure is purposely designed to kill the gas industry.
Alongside these structural changes, One Nation would cut “red, green and black tape” to speed up project development and set a target of deciding on projects within six months.
We would abolish net-zero policies and the Safeguard Mechanism, while also having government help fund gas exploration.
In taxation, the party would replace the failed Petroleum Resource Rent Tax (PRRT) for offshore gas with a simpler Commonwealth royalty based on wellhead values.
This new royalty system would apply only to future projects, with existing PRRT arrangements grandfathered.
Overall, One Nation's policy is designed to deliver greater returns to Australians, encourage oil and gas production, strengthen fuel security, lower power prices, reduce government debt and give Australians real ownership of our natural resources.
Watched 'Gone with the Wind' (over 5 sittings because it goes forever) and it sucked. This bitch goes through all this shit and realises all she cares about is money and her house. actual regression in character arc. 2/10