Budget wastes money on risky fracking gas funding and misses opportunity to sort gas cartel

Published: May 10, 2017

The Turnbull Government needs to explain which three regions it is planning to threaten with gas supply funding announced in the budget, says Lock the Gate.

“The budget says $30 million will go to increasing gas supply in three regions but does not specify where these three regions are,” Lock the Gate’s Phil Laird said.

“Community opposition to fracking is overwhelming and communities need to be respected and properly consulted.

“The budget is a missed opportunity to sort out the gas cartel and structural market failures.

“Unconventional gas is expensive to extract and expensive to transport through distant pipelines. More risky and expensive unconventional gas will do nothing to bring down energy prices for Australians.

“There is no point spending money on feasibility studies for interstate gas pipelines to open up more high-priced unconventional gasfields.

“Instead of wasting taxpayer money, the Government could be investing in renewable energy and storage solutions that will genuinely help Australian families and businesses, without destroying our land and water,” he said.

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