Fossil fuel subsidies cost Australians $11.6 billion in 2021-22, an increase of $ 1.3b. Not too mention that tax concessions on top of that.
Hydrogen subsides are approx $1.78b through Australia renewal energy agency (ARENA), $300m through CEFC and $464m activating regional areas and another $300m for carbon capture. Still far short of the $12B for fossil fuels.
The goal of subsides is to aid or support keys parts of the economy and infrastructure. Diversification and energy security become more critical in times of severe economic challenges and geopolitical crises.
source : https://australiainstitute.org.au/post/australian-fossil-fuel-subsidies-surge-to-11-6-billion-in-2021-22/
POWER!!!! Fortescue Future Industries, page-1486
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