The Australia Institute believes a windfall profits tax would help solve gas domestic supply challenges and “extortionate price issues” by removing the incentive to export gas in preference to supplying Australian customers.
The Institute estimates war-related windfall gains to LNG companies in 2021-22 at between $26bn and $40bn.
Dr. Richard Denniss Executive Director at the Australia Institute, said companies are essentially profiteering from the Ukraine war.
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