That would mean tearing up a past agreement with a major ally, all because we decided the elected prime minister who signed those agreements is an idiot.

Getting past that issue, obviously a 90% gas tax is unreasonable. In no universe would that pass and even if it did it wouldn't raise any revenue. Not even the hack Richard Denniss is calling for that. He's calling for a 25% gas export tax.

If, hypothetically we get that through, total gas export revenue in 2026 is forecast to be 100 billion dollars. That's twice as much as usual and completely ignores any expenses incurred developing Australia's gas fields (as opposed to Qatar's super accessible ones). The 2026 federal budget is 800 billion dollars. A 25% tax on revenue would raise just 25 billion dollars, just 3% of the federal budget in an exceptionally good year for gas exports.

Labor doing it would be a massive legal, political, and diplomatic headache but sure, let's devote the next decade to this.

There's a reason The Australia Institute is so aggressively pushing for this, especially now that Labor's in office. They're trying to distract you from the capital gains tax changes. The right's already shifted to the LNP and One Nation because they hate the capital gains tax changes, now they're trying to get the left to shift to the Teals because apparently the fact Labor's unwilling to waste a decade on raising revenue in one of the stupidest ways imaginable makes them corrupt and captured by the gas lobby.

The wealthy in Australia hate that we have the Labor party. They'd rather we be like the Americans and have two parties: Woke LNP (Teals) and One Nation.