Donation-led gas/coal/oil recovery

The AEC released its report on political donations made in 2020-2021 and yes, $1.15 million was paid to political parties by fossil fuel donors. In 2019-2020 it was $1.3 million and we can be sure that will have ramped up this financial year as the election looms. 

No prizes for guessing which parties got most:

APT Pipelines$27,500$27,500$0$0$0$0$55,000
Empire Energy$25,000$40,000$0$0$0$0$65,000
LET Australia$47,000$40,500$2,000$22,00$0$0$111,500
Minerals Council$64,660$87,205$13,987$28,091$0$0$193,943
Baker Street Family Trust$52,444$42,230$70,528$0$0$0$165,202

And what did they get for their money?

  • $21 million assistance grants to Empire Energy to help with drilling the Beetaloo Basin fracking project, the gas from which could increase Australia’s greenhouse emissions by 13% – all part of the Government’s Gas-fired Recovery Strategy. Donors Santos and Empire Energy have direct interests in Beetaloo.
  • $2 billion more has been given to the Northern Australia Infrastructure Facility – a body keen to support fossil fuel industries including $300 million for the Darwin ship lift and $16.5 million for the Onslow marine support base, both of which support the oil and gas industries
  • 116 major coal and gas projects under development
  • The Government boasts that in the year from Nov 2019, the number of resources and energy major development projects increased by 19 percent to 335 and projects in the pipeline were worth $334 billion

So much for net-zero by 2050!

However, despite handouts this government’s report shows business investors are not having it:

There appears to be a growing reluctance to commit to greenfield coal projects, and an expanding list of lenders/investors have announced plans to no longer finance thermal coal projects. Some pension and equity funds are also divesting from, or limiting their exposure to thermal coal, narrowing the range of investment financing options available to coal projects. 

Government Resources and Energy Major Projects 2020 Report 

Share of committed projects by commodity (in value terms):

LNG/gas/oilIron oreGoldCoalOtherInfrastructureBase metals

Our plan 

Political parties and donations

A financial cap on all electoral and campaign spending, per political party and per candidate, and limits on amounts that can be donated, in line with NSW.

Disclosure thresholds reduced to $1,500, accumulative, disclosure within 7 day, and public release of data ahead of the election so voters know where the money comes from and what influence it might have on government decisions

Share this: