Our Federal and state governments in Australia are continuing to approve large fossil fuel projects and provide record amounts of subsidies to oil and gas companies.
This week, the Northern Territory (NT) State Government approved fracking in the Beetaloo basin, clearing the way for gas production and the expansion of wells in the area. There is almost 70 years worth of Australia’s emissions in the NT gas basins. The decision completely ignores climate scientists’ warnings not to proceed.
The International Energy Agency’s 2021 Roadmap to Net Zero by 2050 states:
the world can no longer afford to develop any new coal, oil or gas developments globally if we are to have a liveable planet.”
– International Energy Agency
There are currently 114 coal and gas projects (in the pipeline) in Australia. If completed, these would produce emissions estimated to be more than double the current domestic carbon emissions of Australia.
In 2022-23, Australian Federal and state governments provided a total of $11.1 billion worth of spending and tax breaks to assist fossil fuel industries. Research by the Australian Institute reveals that Australian federal and state governments are promising to spend $57.1 billion on fossil fuel subsidies over the next 4 years. This is $2 billion more than last year.
Using taxpayer’s funds for oil and gas developments and exploration given the rising global temperatures, is not only unethical but should be phased out completely.
The IMF estimates that fossil fuels are being subsidized at rate of $13 million every minute or about $7 trillion a year.
Political parties will continue to support and fund fossil fuel projects to appease their political donors. Hopefully, at the next election we will see more independent candidates who have policies underpinned by climate and integrity. Although it does seems that our future and the planet may be in trouble unless there is major political shift.
The Green Outlaw 