Funding our own Destruction
Despite fossil fuel usage contributing to the destruction of our climate, the Australian government still hands out billions every year in fossil fuel subsidies. But where is the money going, and how much is being spent exactly?
This was recorded on Tuesday 2nd May 2023 and things may have changed since recording.
The Australia Institute // @theausinstitute
Guests:
Rod Campbell, Research Director, the Australia Institute // @R_o_d_C
Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett
Producer: Jennifer Macey // @jennifermacey
Edited by: Emily Perkins
Theme Music: Pulse and Thrum; additional music by Blue Dot Sessions
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Fossil fuel subsidies
When governments subsidise fossil fuels—coal, gas, diesel, petrol—they not only waste public money, they also make climate change worse. Subsidies and tax breaks make fossil fuels cheaper, making it harder to switch to renewable energy and cleaner technologies. Ending fossil fuel subsidies is common sense and good policy.
It is time to abolish the expensive Fuel Tax Credit that incentivises fossil fuel use.
The OECD has recently called for the end of Australia’s Fuel Tax Credits Scheme, which is growing in cost every year.