Australia Weighs Windfall Tax on Energy Giants as LNG Prices Surge

The Australian government is considering a windfall tax for its energy industry amid soaring prices for liquefied natural gas, of which the country is the third-biggest exporter in the world. ABC first reported the news, saying the Department of Prime Minister and Cabinet had drafted a document for modelling “new levy options” for the gas and coal industries. “Energy producers should not benefit from high international prices at the expense of domestic customers,” the document said. Earlier today, the country’s Energy…