Newman and Abbott just can’t get it through their thick heads. The glory days of coal are over. It was great while it lasted. Now Newman is prepared to gamble with state revenue to attempt to make a unviable scheme viable. This is exactly what according to his own creed he should not be doing. The truth comes out they claim different but they don’t believe in a level playing field they are all about protecting the trillions that the fossil fuel companies have as proven reserves on their books. No matter what the cost to the environment and now its the QLD treasury that has to pay as well. “ Tim Buckley, former head of Australiasian Equity Research at Citi, who is now a director at Institute for Energy Economics and Financial Analysis, commented in relation to this taxpayer support, “The Galilee coal projects are totally, commercially unviable. Any project undertaken is highly likely to end up as a stranded fossil fuel asset.”
Posted on: Mon, 17 Nov 2014 04:21:08 +0000
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