Gas cartel spins budget ‘windfall’ lies as it robs us blind

Monday 3 October 2022

The Australian Petroleum Production & Exploration Association (APPEA) estimates that the sector will pay $13.8 billion in taxes, royalties and other charges in 2022-23, compared with just $4.8 billion in 2021-22.

APPEA CEO Samantha McCulloch claims the extra revenue is “further helping bankroll public roads, schools and hospitals”:

APPEA chief executive Samantha McCulloch said the growing tax bill – based on preliminary forecasts and subject to changing commodity prices and currency rates – were the result of a $300 billion investment in LNG projects by corporations since 2010.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.