Senate debates

Wednesday, 14 September 2011

Bills

Offshore Petroleum and Greenhouse Gas Storage Amendment (National Regulator) Bill 2011, Offshore Petroleum and Greenhouse Gas Storage (Registration Fees) Amendment Bill 2011, Offshore Petroleum (Royalty) Amendment Bill 2011, Offshore Resources Legislation Amendment (Personal Property Securities) Bill 2011, Offshore Petroleum and Greenhouse Gas Storage Regulatory Levies Legislation Amendment (2011 Measures No. 2) Bill 2011; In Committee

6:17 pm

Photo of Nick SherryNick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Hansard source

Again, I do not think I can add a great deal more to my previous comments. However, firstly I would empha­sise that this government—and, I have to acknowledge, the previous government under former Prime Minister Howard—believe conceptually that what you are suggesting should be considered and could be possible. However, there are some quite substantial difficulties and complexities around implementation. We as a government do not rule out this approach, but I am advised there is a good deal of work invol­ved to come to a robust design of such a regulatory and legislative, as I would assume it would require, framework. But, as I said, I emphasise that we believe conceptually it is a good suggestion. The former Howard government believed that as well. We will continue to consider the policy behind it and hopefully be able to implement it at some point in time.

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