New figures showing a sharp drop in mineral and petroleum exploration have prompted urgent calls for the Albanese Labor Government to reverse its attacks on the resources sector, with the Opposition warning investor confidence continues to fall.

Shadow Minister for Resources, Senator Susan McDonald has blasted anti-gas “falsehoods” from the Greens and environmental groups while welcoming the long-overdue approval for the expansion of Senex’s Atlas and Roma North natural gas developments in Queensland’s Surat Basin.

“Labor’s shambolic handling of Australia’s gas industry is now having real consequences – consequences they were repeatedly warned about,” said Shadow Minister for Resources, Senator Susan McDonald of revelations that gas supply on the east coast may be inadequate to meet peak winter demand.

The Coalition condemns Labor’s last-minute deal to backflip on reducing red tape for Australia’s world-leading gas industry.

Shadow Minister for Resources, Senator Susan McDonald, has lashed a decision by ANZ bank to refuse funding for new oil and gas projects as weak and counterproductive, saying that Labor’s homegrown energy crisis is a sure sign that Australia needs more gas and oil projects, not less.

The release of Labor’s Future Gas Strategy marks nearly a year since the Government funded itself to do a study into how to fix the problems they themselves created in Australia’s gas market and the economic damage it has caused.

Shadow Minister for Resources and for Northern Australia, Senator Susan McDonald, has labelled a Greens-led Senate Inquiry into the Northern Territory’s Middle Arm development precinct a “farce” amid revelations witnesses at this week’s Darwin hearings had been threatened with “tribal punishment”.

Today’s release of the ACCC Quarterly Gas Inquiry report claims that there will be no gas shortfalls this year, however it hides Labor’s true colours on gas supply. Shadow Minister for Resources, Senator Susan McDonald, highlighted that the ‘surplus’ of gas on the east coast was in fact due to a decrease in demand as manufactures close Australian operations, rather than increased supply.

The release of the March Resources and Energy Quarterly (REQ) highlights that despite easing global prices for coal and gas, Australia’s resources sector is still holding up the national accounts with $417 billion in earnings for 2023-24, as Australian steel-making coal continues to dominate global markets.

Labor’s appalling approach to bipartisanship has been displayed yet again, with their unnecessary capitulation to Greens pressure to block voting on their own legislation fixing offshore gas regulations.