BP refinery closure 'untenable', Labor and unions say
BP is closing its refinery at Kwinana in WA with the loss of almost 600 jobs, saying it's no longer viable, but Energy Minister Angus Taylor says the move will not negatively impact Australian fuel supplies. Image credit: Dan Peled/AAP
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'Start planning now for a future without gas' is the message from a new Grattan Institute report, with The Australian Institute also arguing the benefits of the fuel have been oversold by the Morrison government.
Energy department officials said the potential cost of decommissioning the Northern Endeavour floating oil production vessel was commercially sensitive, with more than A$75 million in taxpayer money already spent on the failure.
The government plans to remove the Clean Energy Finance Corporation's 50% renewables investment requirement, which department officials say is limiting its ability to invest in energy efficiency and other projects.