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AAP
AAP
Politics
Lucinda Garbutt-Young and Zac De Silva

'Fight like hell': Taylor makes plea to energy industry

Opposition Leader Angus Taylor wants to pump up Australia's oil and gas exploration. (Darren England/AAP PHOTOS)

Energy suppliers have been urged to stand up for their industry, as the opposition leader pledges to allow incentives for smaller oil and gas companies to carry out more exploration.

In a speech to the Australian Energy Producers Conference in Adelaide, Angus Taylor called for the industry to be more vocal about government policies in the sector.

"You need to start making noise. You need to use every campaign tool at your disposal – especially social media. Push back against your detractors," he said.

"We are going to have to fight like hell. That's where we are at now.

"This is bare-knuckle politics."

Storage silos at an oil refinery (file image)
The coalition aims to speed up project approvals for fossil-fuel drilling and scrap net-zero goals. (Joel Carrett/AAP PHOTOS)

Mr Taylor, who wants all net-zero goals scrapped, used his budget reply speech earlier in May to call on the government to lift fuel baseline stockholding levels from 30 to 60 days.

He said the coalition would allow for smaller oil and gas companies to be incentivised to carry out exploration efforts.

"Australia needs energy abundance. We must get busy digging and drilling, but we have a government that isn't interested in these things," he said.

The coalition would also establish an $800 million fuel security facility to boost storage capacity, with a focus on diesel.

He wants to speed up project approvals for drilling projects, particularly in Bass Strait.

Key to Mr Taylor's plan is Australia's ability to expand its gas and oil industry and scrapping net zero. State governments would be responsible for maintaining the industry.

"You need a minister who knows what they want and is just going to keep driving. I say that to my team every day," Mr Taylor said to energy producers.

The speech comes as One Nation leader Pauline Hanson is set to unveil a Norway-style oil and gas policy at the conference.

The plan includes the federal government co-investing with resources companies, helping to fund the establishment and decommissioning of new extraction projects and then sharing in the profits.

One Nation leader Pauline Hanson (file image)
Pauline Hanson would scrap the petroleum resource rent tax and replace it with a royalty scheme. (Mick Tsikas/AAP PHOTOS)

Under One Nation's proposal, the Commonwealth would take a financial stake of up to 30 per cent in oil and gas projects.

Profits would be directed into a sovereign wealth fund, while the government's share of the gas and oil extracted would be directed into fertiliser, fuel refining and energy production.

The petroleum resource rent tax would be scrapped and replaced with a new royalty scheme.

Mr Taylor said he would not back any additional charges on the sector.

"I have only just seen the policy, but let me tell you, I don't support putting more taxes on oil and gas, which I think is part of that policy," he said.

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