Key facts
- One Nation has abandoned its support for a domestic gas reservation policy.
- The Albanese government will establish a new reservation policy for Australia's east coast.
- Senex, a company 49% owned by Gina Rinehart's Hancock Prospecting, opposes the reservation plan.
- One Nation received a new aircraft worth up to $2 million from Hancock Prospecting in April.
- One Nation received $1 million in donations from two of Rinehart's associates.
- Resources Minister Madeleine King accused One Nation of being influenced by industry and doing Gina Rinehart's bidding.
One Nation has faced criticism for shifting its stance on a domestic gas reservation policy, with accusations that the move benefits billionaire Gina Rinehart and her company, Senex. The Albanese government recently announced plans to implement a new reservation policy for Australia's east coast, requiring gas exporters to supply a portion of their production to the domestic market to help lower prices.
Senator Pauline Hanson had previously supported a domestic gas reserve, stating in March that it would increase gas supply and lower electricity prices. However, in June, One Nation unveiled its own gas plans after consulting with industry stakeholders, asserting that the government's proposed policy risked harming domestic Australian gas companies. This policy shift has drawn sharp criticism from Resources Minister Madeleine King, who suggested One Nation's decision was influenced by industry positions and that the party was prioritizing its "big business backers" over Australian families.
The Coalition is reportedly considering supporting the government's proposal, while the Greens are advocating for a 25% gas export tax. Opposition spokesperson Garth Hamilton echoed the criticism, stating that One Nation's change of position was likely for the benefit of donors, not the Australian people. One Nation's June policy statement indicated that while they had previously considered an east coast gas reservation policy, consultations revealed it fell short of their objectives and that the government's 20% reservation policy would damage onshore development.
Further scrutiny has focused on One Nation's relationship with Rinehart, including the party receiving a new aircraft valued up to $2 million from Hancock Prospecting in April, along with $1 million in donations from two of Rinehart's associates. One Nation claims its alternative policy of encouraging government-industry joint ventures would negate the need for a reservation policy. In a Senate estimates exchange, One Nation Senator Tyron Whitten questioned departmental officials about the reservation policy, citing industry concerns about economic viability, which prompted the Greens Senator Steph Hodgins-May to challenge Whitten for appearing to ask questions on behalf of Senex.