Politics with Michelle Grattan: former minister Ed Husic on why Labor must ‘stare down’ gas companies over tax

2026-04-21 · Source: Artificial intelligence (AI) – The Conversation · Field: Government & Public Sector — Public Policy & Governance, Regulatory & Compliance · Depth: Fundamental Awareness, short

Summary

Former Australian Industry Minister Ed Husic discusses critical policy areas ahead of the federal budget, including gas export taxation, artificial intelligence regulation, and combating Islamophobia and antisemitism. Husic advocates for a more assertive stance against multinational gas companies, citing an Australia Institute estimate of $170 billion in LNG exports over four years with minimal royalty or Petroleum Resource Rent Tax (PRRT) revenue. He urges the Albanese government to "stare down" threats of disinvestment, referencing a successful precedent in Western Australia. Regarding AI, Husic calls for a comprehensive National AI Act to establish guardrails and build public trust, rather than a piecemeal, reactive approach. He also emphasizes the need to address Islamophobia as a form of acceptable racism, suggesting the Bondi royal commission broaden its scope and advocating for anti-vilification laws and responses to Human Rights Commission frameworks.

Key takeaway

For policymakers weighing resource taxation and technology governance, Husic's arguments suggest a need for decisive action. You should consider adopting a robust regulatory framework for AI, similar to a "National AI Act," to establish trust and mitigate risks early. Additionally, when negotiating with resource sectors, be prepared to "stare down" threats of disinvestment to secure better national economic outcomes, drawing lessons from past successes in Western Australia.

Key insights

Australia should assert greater control over its natural resources and proactively regulate emerging technologies like AI.

Principles

• National resources should confer economic advantage.
• Proactive regulation builds trust in new technologies.
• Governments should resist corporate threats of disinvestment.

Method

Husic proposes establishing a National AI Act to define risks and mitigation strategies, supported by a dedicated body. He also suggests broadening the Bondi royal commission's focus to include Islamophobia and implementing anti-vilification laws.

In practice

• Implement a National AI Act for comprehensive regulation.
• Broaden inquiries to include Islamophobia and antisemitism.
• Develop anti-vilification laws to protect against discrimination.

Topics

• Federal Budget
• Gas Export Taxation
• Petroleum Resource Rent Tax
• AI Regulation
• National AI Act

Best for: Policy Maker, Consultant, General Interest

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Editorial summary, takeaway, and curation by AIssential. Original article published by Artificial intelligence (AI) – The Conversation.