Christine Milne (Tasmania, Australian Greens) Share this | Link to this | Hansard source

I move:

That the Senate—

(a)

notes that:

(i)

various global oil depletion protocols have recently been proposed, and that the basic principle underpinning each is that oil importing nations agree to reduce their imports by an agreed yearly percentage (the world oil depletion rate), while producing countries would agree to reduce their rate of exports by their national depletion rate;

(ii)

such protocols seek to prevent profiteering from shortage, avoid destabilising financial flows arising from excessive oil prices, encourage the avoidance of waste and stimulate investment in alternative energies; and

(iii)

the next meeting of the Group of Twenty (G-20) Finance Ministers and Central Bank Governors will take place in Melbourne in November 2006 and that the issues listed for discussion include energy security; and

(b)

calls on the Government to include consideration of an oil depletion protocol on the agenda of the 2006 G-20 meeting.

Question put.