Oil and gas giant Woodside has reported $6 billion in revenue over the past three months, an increase of nearly 30 per cent. It has led some media outlets to label the fossil fuel company as “one of Australia’s biggest winners” from war in the Middle East.
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The good news is that headline inflation went down to 3.8%, (from 4% last month) with the trimmed mean (the inflation rate with the most volatile bits removed) unchanged at 3.6%. Both of these were below what the market and the RBA were predicting.
Australia Institute Co-CEO Richard Denniss, Labor Member for Chifley Ed Husic MP and Assistant Secretary of the Maritime Union of Australia Thomas Mayo discuss this issue and how best to address it on a panel from the National Labor Conference Fringe - 23rd July, 2026.
Claims by the Australia Institute, Senator David Pocock and others about Australia's gas industry are based on publicly available government data.
Former Opposition Leader Bill Shorten has said there is a national appetite for a tax on gas exports, days before the Labor Party's National Conference in Adelaide.
