You have to hand it to the Coalition’s favourite coal mining company, Whitehaven Coal: it is a canny investor.
In the past five years, Whitehaven has handed $98,000 to the federal Liberal Party. They only donate to the Liberals — none of this give-to-both-sides stuff used by so many companies to get in the door of fundraisers. And for that sum, less than $100,000, Whitehaven just got an almighty pay-off.
Scott Morrison is paying Whitehaven an estimated $31 million for Australia’s “donation” of 70,000 tonnes of coal to Ukraine. That will last one generator a few days tops, so won’t do much for the brave people battling the Russian army. But it will do an awful lot for Whitehaven: its $98,000 investment is paying off 316-fold.
The company’s share price hit a three-year high yesterday, and why not? Mark Vaile and his board can crack some bubbly for a job well done.
If the coal will do little for Ukrainians — indeed, it’s not even clear how the coal is going to get there — that hasn’t stopped the government using the war as an excuse to ramp up its largesse to its fossil fuel controllers.
Yesterday, climate-denialist industry minister Angus Taylor handed another $50 million to fossil fuel companies — or, as he called it, “investing in seven priority projects as part of our gas-fired recovery”.
The excuse? “To ensure Australia does not experience the devastating impacts of a gas supply shortfall, as seen recently in Europe.” He said Russian gas accounted for around 32% of total European and UK gas consumption, but Russia’s invasion of Ukraine had created an “unacceptable risk” to global gas security.
The money will go to gas infrastructure and storage facilities, as well as feasibility studies to expand gas production under the guise of the mythical “carbon capture and storage”. But the only thing captured here is the state, by the Coalition’s fossil fuel donors — in the case of gas, Santos, Origin and Woodside — not to mention obscure foreign firms based in tax havens like Delaware.
Doubtless the brave men, women and children of Ukraine, currently being slaughtered, maimed and forced to flee by Putin’s butchers, are chuffed that their plight is being put to such good use. Never mind that the clear lesson of Putin’s aggression in energy terms is the need to get out of fossil fuels as quickly as possible, removing the volatility and strategic weakness that reliance on global commodities brings. The government prefers us to remain hooked on hydrocarbons. Just like it is hooked on donations.
I’m so fed up with this.
$442pt – why not $100pt? It was around $100pt all last year.
It’s difficult to believe this isn’t corruption.
But what’s going to happen? Probably nothing.
You don’t have to try to elieve it isn’t because it is – no ifs, buts, or maybes.
Facts is fun, as are numbers and they are sacred.
Belief & opinion are easily assessable thereby.
I think that delivery of the coal is not important to the Liberals. What is important to them is the transfer of taxpayer dollars to a loyal donor. It’s money laundering on a vast scale. The gambling dens are well behind our government when it comes to money laundering.
The delivery is never important to the current PM. All he does is announcements … and re-announcements … and then more announcements.
You forgot to mention “and give money and incentives to the fossil fuel industry”.
How are they going to get the coal into Ukraine? All the ports are either under Russian control or within firing range of warships. By land would cost more than its worth. Perhaps we’re looking at a cunning plan to actually sell the stuff to Putin.
Maybe it will be bitcoal – virtual coal that can be converted later to real coal at an exchange.
“How are they going to get the coal into Ukraine?”
Borrow some B-52s from the USA and deliver the coal by air – 30t at a time, gently floating to earth on parachutes, of course.
We could even send the Ambassador for Coal to parachute with the coal to ensure its delivery.
Ignite and catapult towards the enemy.
Thats our government. No wonder corrupt businesses like to bribe them. They are dirt cheap. You give them $98000 and you get $32 million back. What a deal?
Makes me wonder if there are other payments we dont know about. Surely even this government, the government of business, would sell us so cheaply?
How can we find out if there are secret deals going on?
Shipping’s not a problem. I believe they are going to send it by submarine when our new ones arrive. If any is left over, they will send by air in our F-35s.