<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/one-nation" rel="" target="_blank" title="One Nation"><span>One Nation</span></a><span> leader Pauline Hanson would upend the </span><a href="https://www.9news.com.au/oil" rel="" target="_blank" title="oil and gas sector"><span>oil and gas sector</span></a><span> by scrapping a current tax and bringing the government in as a 30 per cent partner under her policy for the sector.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>She announced she would grandfather the petroleum resource rent tax and replace it with a royalty on production, dump the net-zero policy, lengthy environmental approval processes and red tape policies at an energy conference in Adelaide.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"</span><a href="https://www.9news.com.au/national" rel="" target="_blank" title="Australia"><span>Australia</span></a><span>'s gas reserves are nothing short of a miracle. For a country with only 0.3 per cent of the world's population, we supply nearly 10 per cent of the world's exported gas," she said.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/paul-keating-support-of-federal-budget-opposition-reacts/cfe06484-6b5d-415f-b2b4-43235f7e27e5" rel="" target="_blank" title=""><strong><span>Former PM backs contentious tax reform in scathing statement</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Public unrest is building because successive governments have failed to secure their share while pursuing policies that risk killing the industry that generates that wealth."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Hanson said she would instead guarantee six-month approvals and establish an equity model that provides a 30 per cent rebate on offshore oil exploration in exchange for 30 per cent government equity, with profits to go into a sovereign wealth fund. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This won't be some socialist takeover. It must pay its way into any existing project under commercial arm's-length terms, not under compulsion or coercion," she said.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/one-nation-leader-pauline-hanson-unveils-gas-policy/9a95d39f-8f2e-4f21-86d4-97108e0cb8ff" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The equity model gives flexibility to support domestic manufacturing or capture high export prices.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Under One Nation's policy, the government will have skin in the game as a true partner to industry, maximising returns to the Australian people." </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Currently, the federal government regulates the sector and collects income through the petroleum resource rent tax, while state governments collect royalties.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>At a press conference after her speech, Hanson said she has not talked about her policy proposal with benefactor Gina Rinehart, but has consulted the industry, which has not pushed back against it.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/finance/australia-unemployment-rate-rises-in-april-2026/594c818c-899e-4b83-afd5-cc3a8d1eb3a6" rel="" target="_blank" title=""><strong><span>Unemployment rate jumps in surprise result</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>One Nation MP Barnaby Joyce, who defected from the Nationals, said the policy would cost about $150 million, with savings to come from winding back Labor's climate policy.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"That's premised on exploration costs," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The right-wing leader admitted some of her policies were based on what countries like Norway and Japan were doing with their resources, which was criticised by Resources Minister Madeleine King.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We, as a government, develop our policies with a focus on Australia and not with Norway. I also note that Norway is very different from Australia, it's a unitary system, we're a federation," King said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"For One Nation to cherry-pick parts of a system of another country... just speaks to their lack of knowledge of our gas system and, by the sounds of it, our </span><a href="https://www.9news.com.au/politics" rel="" target="_blank" title="political system"><span>political system</span></a><span> as well."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>King accused the minor party of being hypocritical after its newly elected MP joined the Liberals in failing to endorse a South Australian government bill that would end the blanket ban on fracking in the MacKillop region.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The hypocrisy of One Nation and the Liberal Party are remarkable and now very, very obvious after their respective statements in South Australia this week," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Hanson defended the move, saying it was due to fracking being on agricultural land and opposition from constituents.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/world/itamar-ben-gvir-australia-penny-wong-condemns-actions-israeli-minister-video-taunting-pro-palestine-flotilla-prisoners/fac8f3d9-e610-4ffb-8dc3-217a33ef886f" rel="" target="_blank" title=""><strong><span>Penny Wong condemns Israeli minister after taunting video emerges</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Opposition Leader Angus Taylor also appeared at the same energy conference earlier today and spoke about his previously announced oil and gas policies.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>They include scrapping net-zero, reinstating the $100 million Junior Minerals Exploration Incentive, providing $50 million for oil and gas, creating the National Strategic Priority Projects to fast-track developments like Queensland's Taroom oil field and Western Australia's Browse Basin offshore gas field.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Australia needs energy abundance," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We must get busy digging and drilling, but we have a government that isn't interested in these things."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><strong><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div>