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Fracking Madness: “hottest play on the planet” or giant sinkhole for public money?

“The hottest play on the planet,” Keith Pitt calls it. Resources Minister Pitt and his government are keen to open up the Northern Territory to gas fracking but, if the NT’s Beetaloo Basin is so “hot” for investors, then why do they need public money to drill it? Even more bizarrely, the industry has made it clear that it does not want public subsidies but Pitt and Co appear determined to throw public money at the gas companies anyway. Callum Foote and Michael West report on another extraordinary case of corporate welfare, environmental destruction and the political donors and large US hedge funds who we are all subsidising.

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