Energy & Resources Policy

For over a decade, Australians have been sold a false binary choice by the establishment; between climate alarmism, degrowth and solar farms displacing small farmers by the urban left, and ‘drill baby drill’ fossil fuel continuation at the behest of fossil fuel lobbies by the right. It is time for an alternative approach which takes advantage of Australia’s resource richness to balance industrial development and energy sovereignty with environmental concerns and the concerns of wage workers and small farmers.

Socialise the Mines and Refineries

The Whitlam Labor government was the last government which attempted to socialise the mines and bring Australia’s wealth of raw materials into public hands. In this he was limited by the fiscal constraints which bound the government at this time prior to the Keating government’s floating of the Australian Dollar, which led to a scandal of seeking funds from sketchy sources to pay for the mines. This is no longer necessary.

The Eureka Party supports the full socialisation of Australia’s mining sector at a baseline of 110% of market cap, starting with the major players (BHP, Rio Tinto, Fortescue and Woodside Energy), as well as all remaining refineries in Australia, with public investment into rebuilding domestic refinery capabilities.

Withdraw from the Paris Agreement

The Paris Climate Agreement is at its core a schizophrenic left-imperialist Trojan horse designed to offshore polluting industries from the Global North to the Global South in the name of ‘shrinking the economy’, and in doing so necessitate the perpetuation of Global South exploitation by the Global North by making the latter reliant on the former for consumption.

The Eureka Party supports Australia’s immediate withdrawal from the Paris Agreement in favour of a National Energy Sovereignty Plan which aims to reconcile reindustrialisation with environmental concerns.

Thorium Baseload Energy

Australia is home to the largest reserves of thorium in the world, with 30% of global reserves. Thorium is a safer, cleaner, and more abundant source of fuel for nuclear energy, and Australia has enough in the ground to power all of Australia’s current annual energy usage for tens of thousands of years.

The Eureka Party supports state-funded research and development into thorium nuclear energy and molten salt reactors to power Australia’s baseload energy needs, using fossil fuels as a bridge to be gradually phased out as thorium reactors come online.

Solar Energy Buffer and Domestic Production

The Eureka Party supports increasing government subsidies for household solar systems (including batteries) to serve as a renewable buffer to take pressure off the national grid and reduce fossil fuel usage during the transition to thorium.

The Eureka Party supports the state-funded development of a domestic solar manufacturing industry to reduce reliance on Chinese supply chains for solar infrastructure.

The Eureka Party supports a ban on terrestrial solar farms, and the dismantling of existing solar farms, to curb and reverse the displacement of small farmers and communities.

Reduce Exports of Fossil Fuels and Raw Materials

Australia, for all our flaunting as a ‘developed nation’, continues to operate the national economy in a way more akin to a resource colony rather than a developed economy. This contradiction has left our nation vulnerable to global supply shocks by making us reliant on the export of low value raw materials and the import of high value finished goods. This cannot continue, and does not need to.

The Eureka Party supports the initiation a phased annual reduction of Australian exports of fossil fuels and raw materials globally, with an immediate 5% cut, and a further 5% cut each year after, up to 50%, with reconsideration for further cuts after reaching 50%, in order to redirect our raw materials towards reindustrialisation.

The Eureka Party supports the immediate termination of the Albanese Labor government’s critical minerals deal with the Trump administration in the United States made in 2025. Australia will not sell out our minerals to a regime for the purpose of decoupling for the purpose of preparing for a war.