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$60 million gift to Chevron could be better spent

Media Release
Rachel Siewert 24 Nov 2006

The Greens have suggested more appropriate recipients for $60 million grant from the Low Emissions Technology Demonstration Fund than Chevron Texaco.

"With respect, I can think of better uses for $60 million in greenhouse funding than giving it to one of the largest oil companies in the world," Senator Siewert said.

"Chevron turned a profit of about A$18 billion in 2005, meaning they earn the equivalent of Ian Campbell's $60 million gift in under 30 hours. Chevron needs to get the Gorgon project off Barrow Island once and for all, and identify safer geosequestration options than the one they are currently pursuing."

"It is highly inappropriate to give money to a company seeking to build a massive gas plant in the middle of one of the most important refuges for endangered species in the world. If the Government is going to be subsidising this operation it should be assisting them to get established on a mainland site."

"The company's own modelling identifies significant risks with injecting CO2 into the ground beneath Barrow Island, which eliminates the last reason for putting the project on the Island in the first place," Senator Siewert said.

"There are worthwhile low or zero emission projects crying out for funding, from the sliver cell solar technology to electric cars and energy efficient appliances. When is the Government going to get over it's fossil fixation?"

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