David Pocock on getting a fair return for Australian gas

Independent ACT Senator David Pocock joins the Australia Institute's Richard Dennis and Leanne Minchel to argue that Australia is being systematically shortchanged by its current gas taxation system. Despite being the world's second-largest LNG exporter, Australia collects minimal revenue from offshore gas exports—less than what is collected from beer excise and visa fees. Pocock and the panel highlight the failure of the Petroleum Resource Rent Tax (PRRT), which was designed as a windfall tax but has generated almost no revenue due to complex loopholes and deliberate design. They argue that a 25% gas export tax would be simple, hard to avoid, and would drive down domestic gas prices by incentivizing companies to sell locally. The discussion reveals deep public anger over the lack of returns on a finite national resource, with broad cross-party and public support for reform. The panel also exposes the gas industry’s aggressive lobbying, political inertia, and the irony that Japan—Australia’s largest gas importer—collects more revenue from Australian gas exports than the Australian government does. With a Senate inquiry imminent and growing pressure on the Albanese government, the episode calls for bold fiscal responsibility and a shift from 'giving away our wealth for free' to securing a fair return for all Australians.