WHISTLEBLOWING, OIL, MONEY AND RISK

Abstract

Statutory whistleblower laws in the US have resulted in the recovery of billions of dollars of unpaid royalties from petroleum companies over the past decade. Eighteen months ago, Australia introduced whistleblower laws that could have achieved the same result if the royalty avoidance had occurred here. This paper examines the emergence and application of those laws, and policies of regulators which achieve a similar result. It also argues that the adoption of a whistleblower policy, which includes protection for the whistleblower, is not only desirable, but an essential tool for managing risk.

At a secondary level, it looks at the types of reported actions, typically taken against whistleblowers, that are now outlawed by the new whistleblower protection provisions.