Wildly inaccurate figures used to justify ‘Shane’s $200 million fossil fuel slush fund’ – Greenpeace

It has come to light that a Cabinet paper justifying the Government’s $200 million subsidy for new gas fields used wildly inflated and inaccurate gas price figures. Some were more than seven times higher than the true value.

Greenpeace has called it a “complete debacle” and is calling for the Government to scrap what it calls “Shane’s $200m fossil fuel slush fund’’ immediately.

“Minister Jones’ office has given Cabinet hugely incorrect figures on the gas industry, which were used to decide on the next steps for his $200 million fossil fuel slush fund,” says Greenpeace spokesperson Gen Toop.

“The Government should pull that $200 million fossil fuel subsidy immediately and use the money to fund solar and other clean energy generation instead.”

The paper, presented by Minister Shane Jones’ office, claimed 2024 commercial gas prices rose by 58%, when the correct figure was just 8%. Residential gas was claimed to have increased by 17%, but the actual rise was only 3%. Industrial and wholesale prices were also around double the true values.

A red comment made in the margins of the now-released paper reads: ‘There was an error in calculations… that was not identified before the material went to Cabinet.’

“These figures aren’t just slightly out, they are wildly inaccurate. Either Minister Jones doesn’t understand the energy system, or he’s showing flagrant disregard for the facts,” says Toop.

“Either way, funnelling public money to fossil fuel corporations during the climate crisis is indefensible.”

“Fossil fuels are polluting, finite and expensive. The Government should be backing affordable clean renewables like wind and solar that can actually secure our energy future.”