Ex-BP Boss: Australia Deserves Gas Tax Windfall

0:00It's April 20th. Welcome in. This is Adelaide News today, where local news meets AI. A former BP Australasia boss is calling out gas companies for empty threats over a new export tax. Greg Born, who once led the company's operations down under, tells a Senate inquiry that Australia deserves a fair cut from its massive gas reserves. He's pushing for 25% levy on LNG exports, which could pull in an extra $17 billion a year for the federal budget. Momentum's picking up fast, with support from cross-bentures, liberal spokesman Andrew Hastie, labor's ed Hewzik, and even Commonwealth Bank CEO Matt Komen. Meanwhile, the industry fired back, noting they already paid nearly $22 billion in taxes and royalties last year. They warned higher taxes would kill new projects and send companies packing to greener pastures overseas. Born dismisses those scare tactics, saying governments cut a bad deal that leaves everyday Aussies with crumbs.

1:01He paints gas firms as cornered rats clinging to the status quo, especially as viable projects dry up in the world's shifts to renewables and batteries. The inquiry ramps up Tuesday with more voices like former Greens leader Adam Bant, an economist Ross Garnott. Garnott wants Australia to copy Norway's model, sharing investment risks while grabbing windfall profits. Even Senator Steph Hodgens may, blasted companies for dodging with low-level reps instead of top execs. Shell sending its senior Aussie leader, but others are holding back amid record profits from our gas. As the debate heats up, expect this tax push to shape the May budget and beyond.