Feds won’t criticize Santos leader Kevin Gallagher’s fuel price cap

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Mr Gallagher said the federal government should ensure fiscal conditions for new projects such as Narrabri in New South Wales, just like what is happening in countries like Nigeria.

This Soviet-style policy is a form of nationalisation, Mr Gallagher said, comparing the new operating environment in Australia to economies such as Argentina, Venezuela or Nigeria.

He said businesses and customers would lose out as manufacturing jobs decline, before facing a decision to shut down or move to jurisdictions that offer gas supply certainty.

Speaking during a visit to Sydney’s northern suburbs, Mr Albanese called on businesses not to belittle each other.

I think there is a certain irony in the fact that you are referring to Russia when it was the Russian invasion of Ukraine that had a devastating impact on the Ukrainian people, but also led to record profits and returns for these companies.

Climate Change and Energy Minister Chris Bowen called Mr Gallaghers’ comments glaring.

They can bill the rest of the world as much as they want. They will charge Australians fair prices for Australian gas. We insist on nothing more and nothing less.

Industry and Science Minister Ed Husic accused the companies of profiting from the Ukrainian invasion.

Some of these leaders may want to keep every dollar of their profits from Putin, but we are doing what is right in the national economic interest.

Labor rejected suggestions that price caps and other policies would limit domestic gas supplies. One of the next battles will be over safeguard mechanism reforms, plans for which are expected to be released in January.

A group of climate organizations have stepped up calls for coal and gas companies to stem their pollution, in line with Australia’s 2030 emissions target.

The Australian Conservation Foundation, the Climate Council and Greenpeace are among organizations backing full-page newspaper advertisements on Saturday demanding companies such as Chevron, Woodside, BHP and Shell Australia cut emissions.

Solutions for Climate Australia director Barry Traill said other Australian sectors were taking appropriate action.

The safeguard mechanism dates back to the earlier era of climate inaction, he said.

The 215 installations regulated by the Safeguard Mechanism are now causing more emissions in Australia than they did in 2016. In other words, we have all done more than our fair share of reducing emissions.

The group has written to the chief executives of companies including Glencore, ExxonMobil and ConocoPhillips accusing them of emitting more than 100,000 tonnes of carbon dioxide.

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