Latest data shows carbon capture & storage (CCS) is a scam. Why are foreign multinational gas exporters getting subsidies from Australian taxpayers for tech that doesn’t work?
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YouTube Description:
Westy talks about the 7,000 protestors who gathered in Newcastle to blockade the coal port, demanding an end to new fossil fuel projects. But there’s more to the story—like the $14.5 billion of taxpayer-funded subsidies flowing into the pockets of fossil fuel exporters, often for projects that don’t even deliver on their promises (hello, Chevron’s Gorgon CCS debacle).
Why are we subsidising foreign corporations to the tune of billions while they continue to drive up emissions and laugh all the way to the bank? From fossil fuel handouts to failed carbon capture projects, we’re digging into the numbers, exposing the spin, and asking why Australians are paying for this rort.
🔗 Sources & further reading:
• Fossil Fuel Subsidies Report: https://australiainstitute.org.au/report/fossil-fuel-subsidies-in-australia-2024/
• Safeguard Mechanism Data: https://cer.gov.au/markets/reports-and-data/safeguard-facility-reported-emissions-data#safeguard-facilities-data-2022%E2%80%9323
• Gorgon CCS Failure: https://ieefa.org/articles/if-chevron-exxon-and-shell-cant-get-gorgons-carbon-capture-and-storage-work-who-can
💬 What do you think—should the government cut fossil fuel subsidies? Let us know in the comments!
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Michael West established Michael West Media in 2016 to focus on journalism of high public interest, particularly the rising power of corporations over democracy. West was formerly a journalist and editor with Fairfax newspapers, a columnist for News Corp and even, once, a stockbroker.
