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Mining and renewable energy magnate Andrew "Twiggy" Forrest has used a National Press Club address to accuse the National Party of "betraying the bush" by supporting nuclear energy over renewables.
The federal Coalition, made up of the Liberal and National parties, are currently planning to take a pro-nuclear energy platform to the next federal election.
"We need to have a mature conversation about nuclear," Liberal leader Peter Dutton said earlier this month.
"It's the latest technology that has zero emissions and it can firm up renewables in the system."
In a one-on-one interview with The Business after his press club address, Andrew Forrest had a message for the Coalition.
"I'd say to all my friends in the Liberal-National Party, no-one owns this space. It's the right space, so let's both get after renewable energy," he said, reflecting that Labor currently had the high ground on the energy transition.
"There is no choice here. Green energy is the lowest cost of energy into every Australian household. It's going to happen anyway. Green energy will not destroy the environment.
"Fossil fuels will continue to be unreliable, expensive, be used as a weapon and cost more to every Australian household, so we know what's going to happen.
"Can we just stop all the bickering and politicking and get on with it?"
Mr Forrest backed the recent proposal by economists Ross Garnaut and Rod Sims, also revealed in a speech at the National Press Club, to introduce a "carbon solutions levy" on fossil fuel extraction within Australia and all fossil fuel imports.
He said the alternative would be for Australian businesses and consumers to pay their carbon taxes to overseas governments, or face losing key export markets.
"At the end of the day, the question for Australians is not if or why to price carbon — it is whether or not we allow the price to be set by Australia, by Australians, to the profit of Australians, or by global markets," he argued in his speech.
"It's going to happen regardless. You can't deny it. It's happening now.
"In 2026, the EU will impose a carbon border tax on all products. Major export markets of Australia, including Australian products made from using fossil fuel. A tax on the carbon they emit or contain.
"If we have a carbon price or levy, we won't pay that tax overseas, wasted. It will stay in Australia.
"As more and more countries bring carbon border taxes online, more and more doors will close on Australia's exports if we don't get moving."
Nuclear energy 'pushed by the fossil fuel sector'
Fielding questions from reporters after his Press Club address, Mr Forrest said nuclear energy was being used as a Trojan horse by fossil fuel producers to keep oil, gas and coal in the energy mix for longer.
"The main thing the green electricity and green energy industry needs, ladies and gentlemen, is for the fossil fuels sector to stop lobbying governments to stand in the road," Fortescue's executive chairman responded.
"If you think that nuclear came out of nowhere, no, it didn't. It's been pushed by the fossil fuel sector as a great way to delay the whole country for 20 years from switching over to cheaper energy."
During his prepared Press Club remarks, Mr Forrest took a none-too-subtle dig at sections of the National Party which have been spruiking the benefits of nuclear energy.
"We ask those who claim to represent the bush now to stop dividing us with the false hope that we can cling to fossil fuels forever. We can't. So, please stop betraying the bush," he said.
"If we swallow this new lie that we should stop the rollout of green energy and that nuclear energy will be our fairy godmother, we will be worse off again.
"I do know how to do projects. I do know the science. And I do know the economics. These misinformed, unscientific, uneconomic, plucked-out-of-thin-air bulldust of nuclear policies of politicians masquerading as leaders helps no-one."
'It works really well if you give subsidies'
As one of Australia's biggest investors in renewable energy and green hydrogen over recent years through Squadron Energy and Fortescue Future Industries, Mr Forrest was asked if he was seeking more subsidies for the industries he had pivoted towards.
While he said he would welcome more subsidies for renewables if they were on offer, Mr Forrest also pointed out that the fossil fuel sector continued to receive effective subsidies from the Commonwealth government.
"If the government wants to speed it up even further — yes, it works really well if you give subsidies," he said.
"The diesel fuel rebate is one massive subsidy that's locked in — us having to send Australian hard-earned dollars overseas when we could have been making all that energy in Australia with Australian workers."
Speaking to The Business, Mr Forrest praised the Biden administration's Inflation Reduction Act and, while welcoming the Albanese government's $2 billion Hydrogen Headstart program, implied that more could be done locally to encourage investment in Australia.
Fortescue recently announced a fast-to-market, $550 million liquid green hydrogen plant to be built in Arizona in the US.
"I would love to build it here [but] we have to go first to prove this industry, get it up and going as quickly as possible where the economics are best," he told Kirsten Aiken.
"There's a $3 tax credit, which people confuse as a subsidy, being offered in the United States for green hydrogen.
"Let's just break that down. It's a tax credit which doesn't exist on a profit which doesn't exist in an industry which doesn't yet exist, which North America, like Australia, badly needs to come into existence.
"So it's a really clever economic multiplier. It's a really clever investment engine."
Forrest slams fossil fuel subsidies, lack of tax
During his prepared remarks, Mr Forrest had already highlighted what he argued was the unequal and unbeneficial relationship between multinational energy giants and Australia.
"Australia's hardworking teachers, nurses and retail workers pay more income tax and GST than the tax paid by the entire fossil fuel industry, according to The Australia Institute," he said.
"In 2021, Chevron paid just $30. That's not $3 billion or even $300 million in tax — that's $30. Despite making $12.5 billion from Australia's resources.
"In contrast, Fortescue paid $5.5 billion in corporate taxes and state government royalties in 2023, making us the third-highest-ranking company in Australia in terms of tax paid.
"When we, as a nation, and the world at large, are crying out for green energy, why are we giving the fossil fuel industry a free ride and forcing energy consumers everywhere to only consume fossil fuels?
"Simple. The multi-decadal polluting companies have exploited vicious lobbying for approvals so they can crowd out green energy. So they can prevent Australians from having the choice between cheaper green energy which won't destroy their livelihoods and them, and more expensive fossil fuels, which will.
"In 2022-23, Australia spent over $11 billion supporting the fossil fuel industry."
Mr Forrest argued Australia's continued reliance on fossil fuels made it dependent on the decisions of the dictators that ruled many of the world's largest producers.
"We need a power shift from a fossil fuel-dependent economy run by despots from overseas to an economy which is ours, made here — a renewable-energy-led economy by Australians, for Australians," he said.
"If we make the right decisions today, if we deliver the most profound and enduring economic growth that I've ever seen, particularly in regional Australia."