Gas companies reap spoils of war | Between the Lines
The Wrap with Greg Jericho
The middle of April each year is always when the pre-Budget noise gets louder, and the Government begins to frame the narrative. This year the stakes are as high as any budget in recent memory.
The United States’ and Israel’s attacks on Iran and the subsequent closing of the Strait of Hormuz have very much highlighted to Australians just who benefits from an international oil crisis. While Australians saw their petrol prices rise, and worries about a recession permeated, one industry was laughing.
Photo: AAP Image/Mick Tsikas
— Greg Jericho is the Chief Economist at The Australia Institute.
The Big Stories
Steph Hodgins-May calls gas bosses to front Senate inquiry as pressure mounts for gas export tax
The Australia Institute’s co-CEO Dr Richard Denniss will give evidence to a Senate inquiry into the proposed 25 per cent export tax next Tuesday morning.
We’ll be in touch with more details about how you can watch the hearings live. But now would be a good time to contact your local MP and let them know you’ll be tuning in and hoping to see the Senators in the room asking tough questions of the gas industry.
Speaking of which, the CEOs from Santos, Woodside, INPEX, Chevron, Shell and ConocoPhillips have all been asked to give evidence at the inquiry.
“This is a serious inquiry, and I won’t be tolerating excuses,” said committee chair Greens Senator Steph Hodgins-May.
Japanese climate coalition joins growing push for 25% gas export tax
Calls for Australia to impose a 25 per cent gas export tax have gained international backing, with a coalition of Japanese climate and advocacy groups urging the Albanese government to act.
Fossil Free Japan – a coalition of more than 30 civil society groups – has thrown its support behind the ACTU’s proposed tax as the US–Israel war with Iran pushes liquified natural gas prices up by around 50 per cent.
“This senseless violence in the Middle East has exposed the fragility of the global oil and gas supply chain, yet Japanese and Australian gas companies are quietly cashing in on the sideline,” said James Sherley, Senior Climate Justice Campaigner at Jubilee Australia Research Centre.
“It is absurd that these companies are allowed to hoard wartime profits whilst the rest of us are struggling to make ends meet.”
Santos case could set precedent on offshore oil and gas clean-up responsibility
A Federal Court judge is considering whether Australia’s offshore oil and gas regulator – the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) – failed to ensure Santos had enough money to clean up its Reindeer gas field before approving its environmental plan.
The Wilderness Society’s legal challenge against NOPSEMA and Santos was heard in the Federal Court last week.
At the centre of the case was NOPSEMA’s decision to let Santos keep infrastructure in place off the coast of Karratha, WA, for “future phases” – even though production ended last year.
Pacific nations step up push for fossil fuel phase-out ahead of global talks
Pacific nations are calling on their “big brother,” Australia, to act as a genuine partner in phasing out fossil fuels, warning it is a “matter of survival” for island communities.
As the world reels from a fuel crisis sparked by the US-Israel war against Iran, Pacific leaders are preparing to meet in Vanuatu to agree on a unified position ahead of the first global conference on transitioning away from oil, coal, and gas later in the year.
“The Pacific did not create the fossil fuel crisis, yet we are paying the highest price for it,” said Vanuatu’s Minister for Climate Change Adaptation, Ralph Regenvanu.
Crossbenchers ramp up pressure on Albanese government over potential NDIS cuts
Crossbenchers are ramping up pressure on the Albanese Government to come clean on planned changes to the National Disability Insurance Scheme (NDIS), amid revelations Labor quietly established a “razor gang” to rein in costs.
According to the Guardian, an NDIS Sustainability Taskforce was established in January following a meeting between Prime Minister Anthony Albanese, Health Minister Mark Butler and state premiers.
It was reportedly instructed to advise on cost-cutting options for the $52 billion program ahead of the May budget.
The Win
High Court gives Victoria a chance to rethink its unconstitutional, undemocratic political donation laws
The High Court has ruled that Victoria’s political donation caps are unconstitutional because they include a “nominated entities” loophole which the major parties can exploit.
“The High Court has confirmed what Australia Institute research has shown for years: Victoria’s donation cap, with its many loopholes, is undemocratic,” said Bill Browne, Director of The Australia Institute’s Democracy & Accountability Program.
“Victorians were told donation caps would level the playing field, but they have done the opposite – concentrating financial power in the hands of politicians and their staff, party subsidiaries and corporations.”
The Bin
Every day the government delays implementing a 25% gas export tax costs the budget $49.8 million
New research from The Australia Institute reveals that every week the federal government delays implementing a 25% gas export tax costs the Australian public around $350 million in revenue.
“The longer we delay implementing a gas export tax, and the longer the government defends the failed PRRT, the more it is costing the Australian people,” said Dr Richard Denniss, co-CEO at The Australia Institute.
The Quote
“Taylor has only ‘vibes and fumes’, no answers on migration.”
– Amy Remeikis, Chief Political Analyst at The Australia Institute, on the Liberal Party’s migration pitch.
Podcasts
US allies reassess as Trump undermines global security | Follow the Money
Dr Emma Shortis and Ebony Bennett discuss Trump’s genocidal threats against Iran, his efforts to subvert US democracy, his administration’s growing isolation from long-time allies, and why it’s time for the Australian government to reassess its relationship with the United States.
Listen now:
Trump chaos driving bleak economic outlook | Dollars & Sense
It reads like a dystopian sci-fi novel, but the latest IMF report on the global economy refuses to name the orange elephant in the room.
Listen now:
Vance joyless as US-Iran negotiations fall apart | After America
Allan Behm and Dr Emma Shortis discuss the consequences of failure in US-Iran negotiations, the oxymoron of Trump administration “diplomacy”, the future of NATO, and what this all means for Australia.
Listen now:
What’s On
Gold Standard? with Frank Bongiorno, Carolyn Holbrook & Joshua Black
Friday 24 April | 11am AEST | Online
Join historians Frank Bongiorno, Carolyn Holbrook, and Joshua Black as they discuss their new book, Gold Standard?: Remembering the Hawke government.
Was the Hawke government ‘the gold standard’ for federal government in Australia? A stellar line-up of historians, social scientists, politicians and journalists shed valuable new light on the policies, politics and personalities of the Hawke government and ask: What lessons can it offer in the art of reformist government? How do its legacies continue to shape Australian society?
RSVP >
The Battle for Public Education
Friday 8 May | 11am AEST | Online
Australia is an outlier, the cost of high school is higher than other developed countries while our results are going down. As a wealthy country with a big education sector, how did we get here?
Join Jane Caro AM, Tom Greenwell and Skye Predavec as they share recent research on Australian education and discuss how to navigate a way out of this policy quagmire.
In conversation with Jane Caro – Sydney
Tuesday 12 May | 6pm AEST | Gleebooks, Glebe
Join Jane Caro in conversation with Helen Proctor as she discusses her latest essay, Rich Kid Poor Kid: The battle for public education.
For decades, Australia has been pumping money into private education while public schools struggle. The current system contributes to greater inequity, decreased integration of different communities and even traffic jams as parents are more likely to drive their kids to a private school further from their house.
In Rich Kid Poor Kid: The battle for public education, Caro walks through the decades of policy decisions that have created this situation and identifies the choices that have created the current education crisis.
In conversation with Jane Caro – Melbourne
Wednesday 13 May | 6pm AEST | Cinema Nova, Carlton
The Australian Institute is delighted to partner with Readings to host an evening with Jane Caro as she discusses her latest essay, Rich Kid Poor Kid: The battle for public education.
Politics in the Pub: Budget Wrap 2026
Wednesday 13 May | 6:30pm AEST | Verity Lane Market & Online
Join Greg Jericho and Matt Grudnoff in conversation with Ebony Bennett for their analysis of the 2026-2027 Federal Budget. Who wins? Who loses out? What’s hiding in the budget papers, and what do you need to know?
In conversation with Jane Caro – Brisbane
Wednesday 20 May | 6:30pm AEST | Avid Reader Bookshop, West End
The Australian Institute is delighted to partner with Avid Reader Bookshop to host an evening with Jane Caro as she discusses her latest essay, Rich Kid Poor Kid: The battle for public education.
Politics in the Pub: Rich Kid Poor Kid
Wednesday 3 June | 6:30pm AEST | Verity Lane Market & Online
Join Jane Caro AM and Dr Richard Denniss, discussing Jane’s new Vantage Point Essay, Rich Kid Poor Kid: The battle for public education.
For decades, Australia has been pumping money into private education while public schools struggle. Whether it’s crumbling classrooms, overworked teachers or cuts to music and STEM programs, the system is reaching breaking point. At the same time, with higher rates of private school attendance and the marketisation of education, parents have increased anxiety when faced with the decision of where to send their child. The current system contributes to greater inequity, decreased integration of different communities and even traffic jams as parents are more likely to drive their kids to a private school further from their house.
Copies of Rich Kid Poor Kid: The battle for public education will also be available for purchase on the night, or can be purchased online on The Australia Institute website.
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