An Australian Oil Giant Will Be Paid to Bury Its Own Emissions
- Taxpayers to subsidize Santos carbon capture project
- Moomba will be eligible for state-funded carbon credits
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Australian taxpayers will soon be helping to foot the bill for the emissions reduction efforts of one of the nation’s largest fossil fuel companies.
Santos Ltd. on Monday sanctioned the first carbon capture and storage project eligible for funding under a controversial change to a government program that pays companies to lower emissions. The move is another sign of the continued support for fossil fuels by Prime Minister Scott Morrison, who later spoke at the COP26 climate summit in Glasgow, Scotland, and whose proposals to reach net zero by 2050 have been widely criticized.