Morrison wasting taxpayer funds on CCS in QLD despite new report that CCS failing to meet targets
The Federal Government announced $85m in new funding for Carbon Capture and Storage (CCS) this week, despite evidence that previous CCS funding has not delivered emissions reductions. The Institute for Energy Economics and Financial Analysis (IEEFA) today released a report on Chevron’s Gorgon Carbon Capture and Storage (CCS) project, which received $60m in Federal Government funding and failed to meet its carbon capture targets by around 50%.
Queensland Conservation Council Director, Dave Copeman, says that this further demonstrates that CCS is a dangerous investment intended only to prolong the life of fossil fuels.
“These funds for CCS are draining taxpayers’ funds at a time when Queensland is on the precipice of a renewable energy boom. Investment in CCS undermines our opportunity to become a clean energy superpower,” Mr Copeman said.
The $85m announced on Tuesday includes $35m for Glencore’s Carbon Transport and Storage Company (CTSCo) Surat Basin project which aims to take a small fraction of carbon emissions from the Millmerran coal fired power station, and inject it underground near Moonie.
“IEEFA’s report shows that CCS doesn’t add up. Queenslanders will be left worse off if the Coalition continues its blatant ploy to support fossil fuels via CCS investment, and effectively blocks investment in cleaner, cheaper renewables,” Mr Copeman said.
“This funding for Glencore is another example of the Federal Government giving millions of dollars to multinational corporations who are profiting off Australian resources. When Glencore’s CCS project doesn’t work, it will be farmers and communities around Moonie who are left dealing with fallout. Glencore’s CTSCo project has already been forced to abandon its first proposed site near Wandoan after fierce local opposition to precious water resources being put at risk for another doomed CCS experiment,” Mr Copeman said.
“This announcement shows that the Federal Government is not serious about climate action or protecting Queensland farmers. They are placing the fossil fuel industry ahead of Queenslanders, our climate and our economic future,” Mr Copeman said.
Media Contact: Dave Copeman, 0408841595 or [email protected]