Australia Weighs LNG Windfall Tax as World Faces Soaring Prices

Prime Minister Anthony Albanese has asked Australia’s Treasury to look into imposing a windfall tax on the country’s vast liquefied natural gas industry, to capitalize on soaring prices of the fuel.

The request for modeling was confirmed by Energy Minister Chris Bowen at a press conference on Friday, though he did not provide further details as it is a confidential cabinet process. The Australian Broadcasting Corp. reported the modeling request earlier the same day.