Sixteen former leaders from the oil and gas sector, including executives from BP and Shell, have issued a warning to the Australian government regarding the potential consequences of fast-tracking fossil fuel projects in response to the global energy crisis. They argue that prioritizing gas and coal extraction will not enhance the country's liquid fuel security, as Australia's oil reserves, such as the Taroom trough in Queensland, would only provide less than a year’s worth of supply if fully developed. The ex-executives, including Greg Bourne and Russell Smith, stated in a joint statement that the speculative resources promoted by some could take over a decade to develop and would only temporarily meet a fraction of energy needs. They urged the government to focus on accelerating renewable energy deployment and modernizing the energy grid instead. Prime Minister Anthony Albanese has indicated he will not support a proposed 25% gas export tax, emphasizing the importance of maintaining relationships with Asian gas buyers. The former leaders also highlighted that while some gas will still be necessary to support renewable energy, Australia already has sufficient supplies to meet future demands. Their intervention coincides with a federal government review of fuel supply support in the upcoming budget, amidst calls from the Coalition and gas lobby for faster fossil fuel project approvals.