Anthony Albanese is confronted on the street by an angry young Australian – and dodges his very important question

Anthony Albanese ignored a man who attacked him on the street and demanded answers to the question of ‘who profits’ from the Australian gas industry.

The Prime Minister was walking into ABC Radio’s Perth office on Monday when he was suddenly confronted by a young Australian.

“Prime Minister, nice to see you. I just want to know who benefits from the Australian gas industry?” the man asked.

‘What I want to know is where the money for gas goes, how come teachers pay more tax than the gas industry?’

The prime minister refused to answer the man when he arrived at the radio station and again when he left, instead wishing him “a nice day.”

“Are you gaslighting me?” the man asked when Mr Albanese, surrounded by security, refused to comment.

“Are you poisonous?”

Anthony Albanese was attacked on the street in Perth by a man demanding answers about who profits from the Australian gas industry

The man referred to information from the independent think tank The Australia Institute, which claimed that Australian teachers pay more in income tax ‘than the entire oil and gas industry pays in corporation tax and Petroleum Resource Rent Tax (PRRT)’.

“ATO data shows that Australian school teachers have paid $95 billion in income tax over the past decade, an average of $9.5 billion a year,” the organisation said.

‘In contrast, the oil and gas industry paid $12.5 billion in PRRT and $33 billion in corporate taxes over the past decade, an average of just $4.6 billion per year.

‘The oil and gas industry provides few jobs and pays very little tax. Instead, profits from Australian gas production flow overseas, mainly to foreign owners. Australians are largely behind the curve.’

The think tank also claimed that six out of 10 Australian plants that export liquefied natural gas (LNG) do not pay royalties to the state or federal government.

“These facilities represent 56 per cent of Australia’s gas export capacity. This means that more than half of the gas exported from Australia is given free to the companies that export it,” the organisation said.

Gas companies are supposed to pay royalties for the right to produce and sell Australian gas, but the Commonwealth does not collect royalties on most offshore projects.

“The Commonwealth chooses to collect royalties on North West Shelf gas, but the Commonwealth chooses not to collect royalties on other offshore projects,” said Richard Denniss, director of the Australia Institute.

According to the Australia Institute, royalty-free LNG exports are worth $149 billion.

The man referred to information from the independent think tank The Australia Institute, which claimed that Australian teachers pay more in income tax ‘than the entire oil and gas industry pays in corporation tax and Petroleum Resource Rent Tax (PRRT)’ (pictured is an oil platform in Australia)

“In other words, in the past four years alone, Australians have given away $149 billion worth of LNG for free,” the report said.

Several gas and oil companies paid little or no corporate income tax in the 2020-2021 fiscal year. One example is oil giant Chevron, which paid just $30 in taxes.

The oil company claimed it owed nothing, while reporting a $1.8 billion loss in its own tax transparency report.

Under the PRRT, companies must pay taxes on profits from gas projects, but only after the initial costs of developing those facilities have been covered.

“In the past four years alone, Australians have given away $149 billion worth of LNG for free,” the Australia Institute report said.

The ATO’s tougher crackdown has led to a significant increase in the taxes these companies pay. According to the latest Australian Energy Producers research, the oil and gas industry is now on track to pay $17 billion in taxes this financial year.

The payment is higher than the $16.3 billion in taxes paid last fiscal year and includes corporate income tax, Petroleum Resource Rent Tax (PRRT), state royalties and excise taxes.

“The latest research shows the highest revenue contribution to date, helping governments fund essential services and infrastructure such as roads, schools and hospitals,” said Samantha McCulloch, CEO of Australian Energy Producers.

‘The research also found that the sector will spend more than $41 billion on Australian goods and services this financial year, supporting local jobs, businesses and communities.’

Australia was the world’s seventh-largest gas producer in 2022.

Exports of liquefied natural gas reached a record high of 81 million tonnes.