Exclusive: Government should back projects that prioritise renewables to protect consumers from ongoing price shocks, they say

• Get our breaking news email, free app or daily news podcast

Former oil and gas industry leaders, including senior executives from BP and Shell, are warning the Albanese government that Australians risk ongoing price shocks and higher costs if it prioritises fossil fuel development in response to the global energy crisis.

Sixteen ex-executives and professionals – who had worked for companies including Woodside, Inpex, Exxon Mobil and Esso – have urged the government to reject calls for fast-tracked gas and coal extraction, arguing it would do nothing to improve the nation’s liquid fuel security.