00:02I've found it probably not that surprising, but pretty disappointing how so many major
00:06party politicians are on the side of the multinational gas companies, not on the side of the Australian
00:11people on this.
00:12And we're seeing people like the Prime Minister roll out numbers that are from the gas lobby,
00:18not from Treasury, not from the ATO, not from the Prime Minister's department, but straight
00:23from the gas lobby.
00:24So, I think we've hit this point now where we know we are exporting a huge amount of
00:30gas and we simply aren't getting the return that we deserve as a country.
00:34Why are we giving them gas for free?
00:36I simply do not accept the argument that just because something is expensive to do that you
00:41shouldn't pay for the raw materials until you have recouped all of these costs.
00:48That should come off your corporate tax, not off what you pay us for the actual gas.
00:53And so we're seeing, really disappointingly, the PM and others standing up for the gas
00:58industry.
00:59Not Australians.
01:00This is a finite resource that belongs to all of us.
01:03And we're seeing energy prices around the world go through the roof so we know that these
01:07companies are going to make so much profit.
01:09In the 12 months after Russia invaded Ukraine, Australian gas exporters made an extra $45 billion.
01:18We didn't see much of that.
01:20And so, why are we saying to them, sure, just pay some corporate tax and that's fine.
01:26That doesn't cut it.
01:27We also want to get paid for the actual gas that they export.
01:30Japan and South Korea, Japan more so, actually invest in companies that are exploiting Australian
01:36gas.
01:37So they've got a 20% stake in Inpex who export a huge amount of gas, don't supply any to
01:43the
01:43domestic market.
01:44So they're making money there.
01:45Then they're making money when we send them gas.
01:48They have a gas import tax, which they've used to build 90 days worth of liquid fuel storage,
01:53unlike here in Australia, because we say we can't afford it.
01:56Then they actually on sell gas.
01:58And last year they made a billion dollars worth of profit exporting gas.
02:02They have no gas fields, they're just really smart.
02:04They put the Japanese people first.
02:07And my argument to the Australian government is nothing will change.
02:10They'll still get the gas.
02:11We can still buy liquid fuels, but we'll be getting $17 billion every year and probably
02:17a lot more over the next 12 months with the way that the energy prices are going.
02:21Of course you're going to have countries that are benefiting from our gas say, hey, hey,
02:26leave things the way they are.
02:28Don't tinker with this system.
02:30We're the ones getting fleeced.
02:32They're making money off our gas while we're facing a budget where we all know there's
02:36going to be some very serious cuts at the same time that a finite resource, that once
02:42it's gone, it's gone, is being exported without a fair return.
02:46And I just fundamentally disagree with that approach as a country.
02:49We'll see you next time.
02:50We'll see you next time.
02:51All right.
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