Greens say 300% increase in profits shows Australia is ‘being taken for a ride’ while other activists claim company is ‘burning our long-term future’
Australian oil and gas company Santos has reaped the gains of energy instability across the globe to post a huge profit increase in the first half of the year, prompting renewed calls for a windfall profits tax to be imposed on fossil fuel producers.
“There has been a significant shift in global energy policy towards energy security as a key priority,” he said.The Greens leader, Adam Bandt, said the results showed Australia was “being taken for a ride” by “super-profitable billionaire corporations that make massive profits and send them offshore tax-free”. He called on the Albanese government to impose a tax on gas industry windfall profits in its first budget in October.
after calls by the Nobel prize-winning economist Joseph Stiglitz, the Grattan Institute and other groups.
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