Antinuclear

Greens defend loans for renewables, Herald Sun, AAP , January 04, 2012 AUSTRALIAN Greens leader Bob Brown says fossil fuel industry attacks on a government loan scheme for renewable energy projects are “a bit rich” given the massive subsidies they get.

Senator Brown was defending the $10 billion Clean Energy Finance Corporation, which will provide finance to renewable energy, energy efficiency and low-emissions technologies…..

The corporation has been attacked by the opposition as a slush fund, with finance spokesman Andrew Robb saying it would only “fund projects that the private sector won’t touch with a barge pole”. Now a new attack has come from some of Australia’s biggest industry sectors. The Australian Industry Greenhouse Network – whose members include the Australian Coal Association, the Minerals Council of Australia and the National Generator’s Forum as well as large mining and petroleum companies – says the loans fund could distort markets, the Australian newspaper reported today…….

Senator Brown said government had a legitimate role in helping establish new markets that had wider public benefits. He cited the fact that most coal fired power stations in Australia were originally built by governments, even if they were now privately owned.

“Here we’ve got that same industry, having been built upon government financing, claiming now that the renewable energies of this century shouldn’t even be subject to assistance through loans,” he told ABC radio today. Senator Brown said the fossil fuel industry was currently subsidised to the tune of $11 billion a year.

“The subsidies involved in the clean energy finance corporation are really very restrained compared to those going to the polluting industries at the moment,” he said.

“The fossil fuel industry is largely foreign-owned, it pours billions of dollars out of the country each year and it’s complaining about domestic industries getting a $10 billion loan fund.

“It’s a bit rich isn’t it?”  http://www.heraldsun.com.au/news/breaking-news/greens-defend-loans-for-renewables/story-e6frf7ko-1226236190140