One Nation leader Pauline Hanson has slammed calls for more regulations for the gas industry while labelling a campaign to impose a tax on exports as damaging.
Senator Hanson used a speech at the Australian Energy Producers Conference in Adelaide to outline plans to discount oil and gas exploration in a bid to increase Australia's sovereign wealth.
The policy, similar to that used in Norway, would include a 30 per cent rebate on oil and gas exploration in Australia.
In exchange, the Commonwealth would take a financial stake of up to 30 per cent in oil and gas projects, with profits directed into a sovereign wealth fund.
The government's share of the gas and oil extracted would be directed into fertiliser, fuel refining and energy production.
