RenewEconomyThe Australian Greens will use their power in the Senate to push for reform of the Petroleum Resource Rent Tax, putting the case that a gas tax that “actually works” could raise $94. The PRRT, first introduced under the Hawke Labor government in the late 1980s and designed mainly to tax oil extraction, has become notorious for being remarkably ineffective at raising revenue from offshore gas projects in Australian waters. ”The call for tax reform targeting gas companies comes as fossil fuel giants rake in eye-watering superprofits on the back of surging energy prices driven up by Russia’s invasion of Ukraine