September 2, 2020 Read More →

Australian gas subsidies: So many giving so much to so few for so little

HVAC&R News:

A new report by energy think tank the Institute for Energy Economics and Financial Analysis (IEEFA) suggests proposals for providing long-term subsidies to the flailing gas industry could cause significant long-term economic damage to Australia.

Led by Western Australian gas industry executive Nev Power, the National COVID-19 Commission (Advisory Board) (NCC) is proposing taxpayer funds steered into new gas infrastructure and production for the 30-to-40-year life of the projects.

Report author Bruce Robertson says most Australian industries are struggling to rebuild post COVID without any hand-outs from the federal government. Yet the NCC’s hand-picked advisory group are suggesting billions of dollars in multi-decade hand-outs should go to the gas industry.

“The NCC wants gas to be Australia’s economic saviour, with taxpayers subsidising the gas industry up and out of COVID-19 for the next 30-40 years,” Robertson says. “Our country simply cannot afford this gift giving for years to come when the gas industry gives us so little in return.” 

[Matt Dillon]

More: Funding for gas industry could harm economy

Posted in: IEEFA In the News

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