Monday, May 29, 2017

Adani and the end of subsidy denial

It's not clear whether Adani will win its battle to build its enormous new coal mine. But what is clear is that the coal industry, and the political right, have already lost the war. The enormous subsidies required to make the Adani mine "commercial" have killed once and for all the myth that coal mining is driven by market forces and is a major contributor to government revenue. At the same time Chevron is squealing at the thought of paying income tax, Adani is demanding it gets free coal. That's 10 years' worth of expensive mining PR down the drain right there.

"That's 10 years' worth of expensive mining
 PR down the drain right there" - Richard Denniss.
Read the piece by the chief economist for The Australia Institute, Richard Denniss - “Adani and the end of subsidy denial.”

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