Kimberley, Media release, News

Private company to get taxpayer funded handout to frack the Kimberley

TUESDAY, DECEMBER 4, 2018: Western Australian taxpayers will gift private oil and gas company Finder Shale a share of $5.3M in handouts to undertake exploratory fracking in the Great Sandy Desert, south east of Broome.

The announcement of the taxpayer funded gift to a private fracking company comes just days after the WA Government announced its decision to give fracking the greenlight over most of the state’s existing oil and gas leases.

A spokesperson for Lock the Gate in WA Jane Hammond said the gift was a massive smack in the face for communities that have fought long and hard to stop fracking across the state.

“First our Labor Government betrays West Australians by giving fracking the go-ahead across the vast bulk of areas the gas industry had already earmarked for exploration and development.

“Now we learn that we, the people of WA, will directly subsidise this dirty fracking industry with a massive handout,” Ms Hammond said.

“The nation’s leading scientists including some of its top climate scientists have already warned that the development of a fracking industry in WA will have an adverse impact on global climate stability.

“Financial analysis shows that the economics of fracking simply don’t add up so there is no way our tax dollars should be propping them up.

“The WA Government is ignoring the science of climate change and ignoring the advice of the financial experts by giving fracking the nod and shelling out taxpayer funds to a private fracking company.

“Why do private fracking companies need taxpayers funds to develop a dirty unpopular industry that the economists have demonstrated won’t even deliver many jobs and won’t deliver much in the way of royalties?

“The company involved claims to have assets of more than $US200M and at least five offshore oil and gas wells. But for some reason it needs a cash hand-out from hard working West Australians to frack our state.

“The taxpayer funded gift, understood to be around $200,000, is further evidence that fracking is not economically viable. It can’t stand up to economic scrutiny. The people of WA will be the ones paying for it to happen in more ways than one and for decades will be paying for the clean-up long after the fracking companies have packed up and left.

“We are calling on the McGowan Government to make a firm commitment that no more public funds will be spent on fracking activities in WA.”

STOP PRESS: Anti-fracking protestors will gather on the steps of Parliament House in Perth on Thursday Dec 6, at 11.30am to again voice their concern at the WA Government decision to give fracking the greenlight.

Check out the details of Finder’s handout here

Check out the Mines Minister’s media release here