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Wise investment or fossil fools?

Coal subsidies at the expense of schools, hospitals and social wellbeing?

'Something is brewing' writes business columnist Michael West in the Sydney Morning Herald. 'If you were to join the dots you would conclude that taxpayers are about to be put forward to subsidise the Galilee project despite the G20 calls to end subsidies, low coal prices and the dubious economics of the project. Taxpayers could certainly be forgiven for reminding Queensland Treasurer Tim Nichols of the promise he made to "subject major projects to cost benefit analysis" in the budget speech.  However, 'According to analysis by The Australia Institute released earlier this year, Queensland has spent over $8 billion subsidising its coal industry over the past six years. This comes directly at the expense of spending on schools, hospitals and social wellbeing.'

 

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