When is a subsidy not a subsidy?
June 24th, 2014
There’s great excitement today amongst anti-fossil fuel campaigners, with the release of a report that claims the mining and energy sectors have received $18b worth of subsidies over the past six years.
The report from The Australia Institute needs be taken with a grain of salt though – and strangely enough, it makes no reference to the quantum of subsidies paid to the renewable energy sector over the same period.
But for a true assessment of the report, we’ll leave the last word to the Minerals Council of Australia, as reported in the Sydney Morning Herald:
‘ ”Australia Institute reports about the mining sector are routinely riddled with errors, distortions and misstatements,” Minerals Council chief executive Brendan Pearson said.’