Federal Member for Flynn, Colin Boyce has labelled the Labor-Greens energy policy as 'thin air' after another hydrogen pipe dream is canned.
Mr Boyce said Australia's largest green hydrogen project has collapsed after the Queensland Government pulled funding from construction of the $12.5bn plant and pipeline in Gladstone, a project championed by Labor and the Greens.
"Reports are that the $12.5bn estimated cost of construction had blown out to $14.75bn in a 2022 feasibility study and since then was increasing significantly with the worldwide hike in input costs," Mr Boyce said.
"The Labor-Greens energy policy is in shambles as more and more of their green hydrogen pet projects fall apart.
"They should be focusing on helping the economy and supporting our manufacturing sector, which is faltering and under threat from the Labor-Greens Government's spiralling power costs, home-grown high interest rates and inflation.
"Instead of getting the fundamentals right the Labor-Greens Government has indulged in billions of magic pudding spending on technologies which are years away from commercial reality and which clearly do not stand up on their own merit.
"This is all part of their failed all-eggs-in-one-basket 'renewables only' approach and its Australian taxpayers who are picking up the bill.
"Labor's vision of becoming a green hydrogen superpower includes 26,000kms of transmission lines carpeting regional Australia.
"For every kg of green hydrogen, at least 9 litres of water is required. Production needs secure access to water, and nobody knows where all the required water is going to come from for a hydrogen industry in Gladstone.
"Labor is throwing billions at billionaires to try and get green hydrogen off the ground through the $4 billion Hydrogen Head Start program and a $6.7 billion Hydrogen tax credit scheme.
"According to The Australia Institute, this incentive budgets to deliver approximately 78 petajoules of hydrogen a year from 2030. Including our exports, gas production is currently at 6076 PJ a year - 77 times more than projected green hydrogen production through this scheme.
"It's time the Labor-Greens Government stopped trying to back winners and wasting taxpayer money.
"Only a Coalition Government will get Australia back on track."
