Woodside greenlights $27b US gas project
The decision to approve Louisiana LNG, scheduled for completion by 2029, positions Woodside to operate more than 5 per cent of global LNG supply by the 2030s, the company said on Tuesday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Perth Now
26 minutes ago
- Perth Now
‘Dog's breakfast': Karl pans US beef deal
A trade deal to accept US beef into Australia has been labelled a dog's breakfast by Karl Stefanovic after the Trade Minister's apparent gaffe claiming Donald Trump personally lobbied for the deal. Trade Minister Don Farrell on Sunday said the US President raised the issue directly with Anthony Albanese in one of the three phone conversations the leaders shared. The Prime Minister said that was incorrect, and on Tuesday Stefanovic put criticism of the beef deal to Labor frontbencher Amanda Rishworth. Senator Don Farrell admitted to making a mistake when he said Donald Trump had raised the issue of beef with Anthony Albanese. Jason Edwards / NewsWire Credit: NewsWire 'I think he has clarified his comments,' Ms Rishworth said of Senator Farrell. 'We've discussed it on this show, that Donald Trump made public his issues around beef imports and exports. That was not a secret. 'I think this is making a mountain out of a molehill. Quite frankly, just silly politics on the side. 'What's important here is putting forward our best foot forward, for the national interest, to be prosecuting our case with the US, and that's what our government will keep doing.' Stefanovic suggested the US beef deal had become a shambles and asked senator David Pocock what needed to happen. Amanda Rishworth defended her colleague, Trade Minister Don Farrell. NewsWire / Martin Ollman Credit: News Corp Australia 'David, do you think there should be an inquiry? I mean, it's starting to look more and more like a dog's breakfast,' Stefanovic said. 'I think there's real questions to answer around the timing of this,' the senator replied. 'And on the bigger issue, who's going to buy American beef? We have some of the best beef in the world here in Australia. I certainly won't be buying US beef. 'I think a lot of Australians will see it on the shelf, if it even gets here, and say 'well, I'm going to support Australia'.' The Coalition has already called for an inquiry into the beef deal, arguing the government has put biosecurity at risk as a bargaining chip for a US tariff exemption. The Coalition wants a Senate inquiry into the government backflip, citing the timing of the decision amid stalled tariff negotiations. Labor has rejected claims of the link to ongoing tariff discussions, saying the decision follows a lengthy review undertaken by the Department of Agriculture, Fisheries and Forestry, which found new tracing protocols eliminated risks posed by beef sourced from Canada and Mexico but slaughtered in the US. However, Nationals Leader David Littleproud said an inquiry was required to give 'assurance' that 'Labor isn't sacrificing our high biosecurity standards'. As of Monday, July 28, Australian businesses were able to apply for import licences to get US fresh beef and beef products.
Sky News AU
26 minutes ago
- Sky News AU
Donald Trump will never serve Australia's ‘national interest'
Former Labor Senator Stephen Conroy discusses US President Donald Trump's plans to impose increased tariffs. Australian businesses could face tariffs of 15 to 20 per cent to trade in the United States, according to President Donald Trump. Mr Conroy said Donald Trump will never serve Australia's 'national interest'.
News.com.au
26 minutes ago
- News.com.au
Ireland's 'economic miracle' at risk from tariffs
The deal between the United States and the European Union may have averted a transatlantic trade war, but worries persist in Ireland where crucial sectors are dependent on US multinationals. Attracted primarily by low corporate taxes, huge pharmaceutical firms like Pfizer, Eli Lilly, and Johnson & Johnson, and tech giants like Apple, Google, and Meta have based their European headquarters there. The US investor influx has boosted Irish tax coffers and fuelled record budget surpluses in recent years. But President Donald Trump's tariffs -- a baseline rate of 15 percent on EU exports will apply across the board -- present a stress test for the Irish economic model. Once one of western Europe's economic laggards, Ireland became known as the "Celtic Tiger" thanks to a remarkable turnaround in the 1990s. A model built on low corporate tax and an English-speaking workforce in an EU country proved seductive to foreign investors, particularly from the US. Their presence drove rampant economic growth and would later help Ireland rebound from the financial crash of 2008. The transition was an "Irish economic miracle," said Louis Brennan, professor of business studies at Trinity College Dublin. "Ireland has advanced in a matter of decades from being one of the poorest countries of northwestern Europe to being one of the most prosperous," he told AFP. Last year Ireland hiked its corporate tax rate from 12.5 to 15 percent after pressure from the Organisation for Economic Co-operation and Development (OECD), but still anticipates a budget surplus of 9.7 billion euros for 2025. Ireland's "spectacular" transformation "may have been too successful because we are very dependent in many ways on American companies," says Dan O'Brien, director of the IIEA think tank in Dublin. - Pharma in frontline - Spared from the first round of Trump's tariffs, pharmaceutical companies are now being targeted by the American administration, keen to repatriate production to home soil. Earlier this month the US president threatened a 200 percent levy on the sector. Irish Prime Minister Micheal Martin expressed mixed feelings at Sunday's 15 percent deal, welcoming that "punitively high tariffs" were avoided. But "higher tariffs than there have been" will make transatlantic trade "more expensive and more challenging," he added. The new 15 percent levy sealed will be "particularly unwelcome in Ireland," O'Brien told AFP. "The pharmaceutical industry is very large relative to the size of the economy, and in recent times around half of its exports have gone to the United States," he said. Pharma employs about 50,000 people and accounted for nearly half of Irish exports last year, reaching 100 billion euros, up by 30 percent year-on-year. "Ireland's problem is that it is uniquely integrated into the United States economy," said O'Brien. "There's no other European country like this. So Ireland is caught in the middle," he said. Official data Monday showed that Ireland's economic growth contracted in the second quarter, a consequence of Trump's tariff threats. Gross domestic product shrank 1.0 percent in the April-June period on reduced exports by multinationals, government figures showed. It had expanded 7.4 percent in the first quarter as companies ramped up exports to the United States in anticipation of Trump's tariffs. Large pharmaceutical companies, particularly American ones, also host certain patents in the country to reduce their tax burden, which then boosts the Irish tax take. Tariffs "risk strongly discouraging American companies from setting up their future factories in Ireland," said Brennan. The US could still decide to impose further tariffs on the sector following an ongoing probe into whether pharmaceutical imports pose a national security problem, he said. Tech firms with EU bases in Dublin who have also transferred part of their intellectual property rights will not be directly impacted by the imposition of tariffs on physical goods. The sector is also a "significant area of investment and employment for Ireland, but at least from a US perspective, it seems outside the scope of the tariffs," said Seamus Coffey, an economics professor at University College Cork. Beyond tariffs, tech could be affected if the United States decides to modify its tax regime to make it less attractive to set up in low-tax countries, said Andrew Kenningham, from Capital Economics.
