David Pocock

And this is a bit of a quirk in history and different decisions from governments in the past where when it comes to gas, say in Queensland, the Queensland government puts a royalty on it.

You can argue whether it's high enough or not.

But for offshore LNG, there's no royalty.

And so they've...

When they hit oil in Bass Strait, they set up the petroleum resource rent tax, which has actually worked pretty well for oil in the Bass Strait.

We've done pretty well from it.

When it comes to gas, it just does not work.

And so for, I don't know how long now, a decade, we've been shipping oil

Huge amounts of gas and have basically got next to nothing in terms of PRT, which is what we're meant to get from the shipping of that gas.

Sure, some companies have paid corporate tax, but I just think this belongs to the Australian people.

This is a finite resource owned by us, not these multinationals.

We've got to have a mechanism to get a return.

Well, I think for once we actually have the gas industry on the back foot.

They are having to really justify how much tax they pay.

They're putting all sorts of inflated figures out there

Which is kind of what you expect, right?

This is a very powerful lobby group that clearly doesn't want to have to pay for the gas that they export because they make a lot of money doing that.

and have been for a long time now.

They know what they're doing.

They're advertising to a small audience of politicians and lobbyists who come to Canberra.