Morrison must rule out subsidies to Waratah Coal in Net Zero deal
The lack of transparency in the deal between the Prime Minister and the National Party room over their support for net zero raises serious questions about what it contains. If Australia is to take our commitments to climate action seriously, it must not include new coal subsidies.
“A net zero emissions target by 2050 is not enough. If taxpayers money is being committed through this secret deal to economically unviable, emissions intensive projects like Waratah Coal’s Galilee power station, then this deal is a betrayal of Australians who want climate action now,“ said Queensland Conservation Council Director, Dave Copeman.
Nationals Party MP and Resources Minister Keith Pitt has previously floated a $250 billion fund offering loans for unviable mining projects in exchange for Nationals support for the net zero by 2050 target.
“Australians are sick of back-room deals that betray their interests, and instead look after vested interests,” Mr Copeman said.
Waratah Coal is based out of the same Brisbane office as Clive Palmer’s United Australia Party. Experienced political journalist, Mike Steketee said this morning “In 2019…. United Australia Party acted essentially as an outsourced dirty tricks unit for the coalition parties to ensure Labor lost the election (7AM podcast, Schwartz media)”.
“We need a climate policy that is based on science and our incredible opportunity to be a renewable superpower, not wasteful deals that build new coal power stations and mines,” Mr Copeman said.
Analysis conducted by the Queensland Conservation Council, shows that Waratah Coal’s coal power proposal would only make a return on investment if it receives massive subsidies and if it charges electricity prices above $100 a MW/hr.
“We will be an international laughing stock if Morrision has only achieved a deal on net zero emissions by throwing additional subsidies at politically connected coal projects,” Mr Copeman said.
Media Contact: Queensland Conservation Council Director Dave Copeman [email protected]