Young claims.
Net zero initiatives outlined in the submission include amending the Offshore Petroleum and Greenhouse Gas Storage Act 2006 to allow for reservoir testing to examine the use of carbon capture and storage and supporting carbon capture opportunities through acreage releases. “For the 19/20 financial year, the oil and gas industry paid $5.35 billion in taxes, rents, and royalties directly to governments, despite the well-documented collapse in demand, record low oil prices, the performance of the Australian dollar against its US counterpart, and the resulting overall financial loss returned by the industry,” the submission said.
If the oil & gas sector arent paying any taxes, how can they make demands on the Australian people?
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