Slade Brockman: More regulation would strangle WA gas industry and Australian economy

It is no coincidence that Labor’s default response to a gas supply crisis has always been the same tired three-card trick.

First, blame the previous government. Then blame the market.

Lastly, regulate, regulate, regulate. If it moves, tax it. If it keeps moving, regulate it.

The WA gas industry is one of the greatest economic success stories in modern Australian history — built here, by us, with no handouts, no apologies and minimal bureaucracy.

In the past, while the Eastern States drowned in red-tape and ideology, WA quietly powered ahead. Our gas sector was made possible by bold leadership, not red tape interference from Canberra. The Brand and Court Liberal governments, from the late 1950s and into the 1980s, had the foresight to back this industry, not stifle it. They unlocked the vast resources of our State and set the foundation for WA to become the economic engine room of the nation.

This wasn’t achieved through over-regulation or endless reports and reviews. It was achieved by risk-takers, backed by massive private investment, and enabled by governments smart enough to get out of the way. In oil and gas especially, companies faced decade-long lead times, volatile markets, and complex offshore challenges — and they still delivered for our State and our nation.

They poured hundreds of billions into the WA economy, built world-class infrastructure, and attracted generations of skilled workers. Woodside — now one of Australia’s most important energy companies — was born of that pro-development environment.

And our WA gas industry pays its way. In 2023, Woodside alone paid $5 billion in taxes and levies. Since 1984, the North West Shelf Project has returned over $40 billion in royalties and excise — including approximately $18b to WA — all while creating thousands of high-wage, long-term jobs. This is a success story built not on regulation but on vision, genuine enterprise and belief in the future.

Sadly, the creeping tendrils of regulation have slowly wrapped themselves around the WA industry, making the future far less certain than it should be. According to the Government’s own regulator, AEMO, WA could face gas shortages as early as 2028, with a real risk of shortfalls by 2030. Unbelievable.

And what’s Chris Bowen’s solution to this? More regulation. More intervention. More of what caused the problem in the first place. That’s his clever answer to government-induced shortages!

Ideologically-driven governments and inner-city Eastern States think-tanks have been targeting the very industry that powers our nation — literally gaslighting Australians while their own States struggle to keep the lights on. They demonise gas while depending on it. They regulate it to strangle the industry out of existence, all the while pretending that renewables alone will fill the gap.

Let’s be blunt: if Labor’s current policies had been in place in the 1970s, there would be no gas industry, no iron ore boom, no royalties, and no economic powerhouse in WA today.

And if we let that short-sighted regulatory approach win, the next wave of economic development will never come. Just more red tape, more shortages, more excuses.

Eastern States Labor governments have been strangling their own industries, banning new gas projects, and driving up energy costs — while hard working Australian families pay the price.

WA cannot afford to import their failure.

We cannot afford to be governed by the same timid, regulatory mindset that has left the east coast short of gas and long on excuses.

The future demands more energy — not less. And cheaper, more reliable energy at that. Whether it’s mining critical minerals, growing the service economy, or hosting power-hungry industries like advanced manufacturing and artificial intelligence, energy is not optional. It is the foundation for prosperity.

WA was built on hard work, courage, and the freedom to develop. That formula has never let us down.

We don’t need more regulation. We need to defend what works.

Less interference, more development. That’s how we keep the lights on, and our future bright.

Slade Brockman is a Liberal Senator for WA