$50M NT fracking funding
Posted on: Fri 18 Dec 2020
The Beetaloo Basin is an enormous shale gas resource 400 kilometres south of Darwin.
Yesterday the Federal Minister for Resources, Water and Northern Australia Keith Pitt announced a $50 million dollar taxpayer-funded subsidy to fracking companies in the Northern Territory.
The funding will fast track drilling by providing to cover 25% of eligible exploration costs, capped at $7.5 million dollars, but gas opponents say this is the last thing the government should be investing in.
Rod Campbell, Research Director at The Australia Institute, speaks with Breakfast’s Tom Mann and Zoe Kounadis about the project.
Image: Wikimedia Commons
Produced by Soph Landau