[Greens-Media] Gorgon deal gives Australian taxpayers $3 billion carbon risk

[Hollo, Tim (Sen C. Milne)]

Gorgon deal gives Australian taxpayers $3 billion carbon risk

Wednesday 19 August 2009

Prime Minister Rudd and WA Premier Barnett have signed off on a more
than $3 billion carbon risk for Australian taxpayers under the Gorgon
gas deal, the Australian Greens said today.

Part of the agreement with developers Chevron, ExxonMobil and Shell
indemnifies them against liability for leakage of any of the carbon they
store, passing that multi-billion dollar risk onto the taxpayers of
Western Australia and the Commonwealth.

The project is expected to attempt to sequester 130 million tonnes of
CO2. At a carbon price of $25 a tonne, expected in the early years of
any emissions trading scheme, leakage of that carbon would entail a
carbon cost of $3.25 billion on Australian taxpayers.

"Thanks to Mr Rudd and Mr Barnet's deal, Australian taxpayers will bear
the full risk for a massive carbon experiment by some of the world's
biggest polluters," Australian Greens Deputy Leader, Senator Christine
Milne, said.

"This is a critical lesson to remember on the day when the Government
and Opposition joined forces to exempt polluters from the renewable
energy target.

"Geosequestration of carbon dioxide is unproven. Now, if the carbon
leaks, not only will the community bear the full cost to the climate,
but we will also have to pay the carbon cost of that leakage!"

Senator Milne also expressed concern at the conclusion of this deal
before the environmental impact assessment of the project has been
completed.

"What Martin Ferguson and the Government have done is once again wiped
their boots on the Minister for the Environment."


Tim Hollo
Media Adviser
Senator Christine Milne | Australian Greens Deputy Leader and Climate
Change Spokesperson
Suite SG-112 Parliament House, Canberra ACT | P: 02 6277 3588 | M: 0437
587 562
http://www.christinemilne.org.au/| www.GreensMPs.org.au
<http://www.greensmps.org.au/> 



	
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