Shadow Minister for Resources, Senator Susan McDonald has called out the Federal Government’s continued attacks on mining and resource extraction that fly in the face of a budget surplus delivered off the back of sky-high commodity prices.
Senator McDonald said it was farcical that the resources sector continued to be hounded by “layering” of negative legislation while propping up Australia’s economy and providing the vital funding for our schools, healthcare and roads.
However, Senator McDonald said that today’s September 2023 Resources and Energy Quarterly release confirms Labor is taking Australia’s resources sector in the wrong direction.
“We’ve seen funding cuts for gas exploration and critical minerals projects, we’ve had socialist gas market interventions that have decimated international investment confidence, we have an Energy Minister who excluded coal and gas from the capacity mechanism, we have increased funding for green lawfare groups, and more power to unions which all add up to a bleak outlook for one of our most important industries.
“Despite the Government’s continued anti-coal rhetoric, today’s Resources and Energy Quarterly release confirms that Australia’s production and exports of coal is increasing.
“Thermal coal production is set to rise by 36 million tonnes in 2024, and metallurgical coal production by 10 million tonnes.”
Senator McDonald also pointed to the real impact on Australia’s gas market Labor’s damaging interventions have done.
“Today’s release confirms the impact of Labor’s market intervention, with offshore gas exploration plummeting by 21 per cent in 2022-23.
“This coincides with Labor’s announcement of consultation on their future gas strategy – a paper in which Labor calls to force a managed decline in gas demand in the future, not an increase in supply.
“In fact, the Government doesn't want an excess of gas supply, yet that is the best solution to easing price and supply pressures.
“Iron ore, coal and gas continue to carry this Government’s budget, but for how much longer can we depend on the strength of our resources sector under this undeniably anti-mining administration?
“Anthony Albanese and Chris Bowen are refusing to tell the Australian people the truth about the need for coal and gas production, and they’re lying to themselves about how crucial it is for Australia’s economy.”