Trump’s Energy Boom Leaves Australia Struggling to Compete
Woodside Energy’s CEO Meg O’Neill isn’t sugarcoating it—Australia is losing ground in the global energy race, and Donald Trump’s aggressive push to ramp up U.S. fossil fuel production is only making things worse. Speaking at the Melbourne Mining Club this week, O’Neill warned that Australia’s regulatory hurdles, environmental red tape, and high costs are pushing investment away, while the U.S. is rolling out the red carpet for energy projects, the FT has reported.
“Australia is not competing,” she said bluntly, pointing to government policies that have delayed key oil and gas projects, making it harder for the country to meet its own energy needs—never mind securing its standing as a major LNG exporter.
Meanwhile, Trump is all about cutting regulations, boosting output, and creating an investment-friendly environment that’s enticing capital away from other countries--like Australia.
The timing stinks. Australia’s energy prices are already on the rise, with some states now being forced to actually import gas--for the first time. Price caps and export controls introduced by Prime Minister Anthony Albanese’s government have added uncertainty, making Australia look like a less reliable supplier to its key Asian customers, including Japan and South Korea.
O’Neill’s warning comes as Woodside itself looks beyond Australia. The company has been expanding into the U.S. where energy projects don’t get stuck in bureaucratic limbo for years. Case in point: Woodside has been waiting for six long years for government approval on a Western Australia project.
With Trump poised to make American energy dominance a cornerstone of his policy, Australia’s sluggish approach to development is putting its own industry—and its economy—at risk. Energy security isn’t just about keeping the lights on. It’s about staying in the game.
By Julianne Geiger for Oilprice.com