Australian far right party proposes Norway-style oil fund and state oil company

AI Summary

The Australian far-right party Pauline Hanson’s One Nation proposed creating a Norway-style oil fund and establishing a state oil company. The policy aims to increase government revenue from offshore production licenses and shape Australia's energy strategy.

ADELAIDE, May 21 - Australian populist party Pauline Hanson’s One Nation said it wanted to create a Norway-style sovereign wealth fund and for the government to take a share of offshore production licences in federal waters as it unveiled its energy policy at the Australian Energy Producers conference in Adelaide on Thursday.