Andrew Forrest attacks energy minister Angus Taylor’s support for fossil fuels

Billionaire Andrew ‘Twiggy’ Forrest has launched a blistering attack on Energy Minister Angus Taylor saying his God-like commitment to fossil fuels was like wearing ‘rear view glasses’.

Andrew "Twiggy" Forrest. Supplied

Billionaire Andrew “Twiggy” Forrest has launched a blistering attack on federal Energy Minister Angus Taylor, saying his commitment to fossil fuels was like wearing “rear view glasses.”

Dr Forrest told a Queensland Media Club lunch in Brisbane that Vladimir Putin’s stranglehold on gas supplies to Europe following his invasion of Ukraine showed Australia had to become fully energy independent.

Dr Forrest said Mr Taylor’s attack on AGL’s decision to shut Australia’s largest coal fired power station ahead of schedule was ignoring both climate change and the market’s moves to develop a strong renewable energy-powered economy.

“In studiously supporting fossil fuels, he is standing in the way of both the market, never a wise decision, and the concluded science of climate change,” Dr Forrest said.

“What bothers me most is that rear vision loyalty is standing in the way of Australia’s real and proper destiny of becoming a pollution-free nation and exporting pollution free products.”

Angus Taylor at his Farm near Goulburn.

Dr Forrest said Mr Taylor paid lip service to green energy but “takes action for fossil fuel.” “Why else would we go through the macabre pretence of turning fossil fuels into so-called “clean” hydrogen, when the result creates more emissions than simply burning the fossil fuel in the first place,” he said.

“And then take national advertisements out, proclaiming your green credentials by championing fossil fuel made hydrogen, to try and fool us all. It makes me ask the question: what’s the difference between Angus Taylor and God? And I answer it: God doesn’t think he’s Angus Taylor.”

Dr Forrest’s attack on the federal government’s energy policy comes ahead of his turning the sod on a giant green energy hydrogen manufacturing facility in Gladstone on Sunday supported by the Queensland government.

“Europe is in the midst of a freezing winter and Russia’s actions are already driving the price of fuel up, affecting the ability of people all over Europe to warm their homes and the ability of businesses to power industry,” he said. “This is why Australia must become fully energy independent.”

“The federal government is telling us we can ride this out with adequate supplies of oil and gas. And maybe we will this time, but what if we don’t? Are you willing to gamble your future on the whims of people like Putin?

“We cannot – we must not – keep relying on foreign fossil fuel imports to keep our country running – our hospitals, our schools, our homes and our industries.”

Both Andrew Forrest’s listed arm, Fortescue’s Fortescue Future Industries, and his rapidly growing private business empire, Tattarang, have ambitious green energy operations.

Dr Forrest has committed to spending 10 per cent of Fortescue Metals’ profits on FFI projects.

But he has said that any projects FFI commits to will be externally funded without having recourse to the Fortescue Metals balance sheet.

Analysis last year by The Australian of publicly available information suggested the cost of building just 13 of the projects identified by FFI as development candidates would be up to $US148.5bn ($195bn).

Since then, FFI has added another seven hydropower and 11 geothermal energy projects in PNG alone, plus new projects in Canada and New Zealand.

The federal government sees “clean hydrogen” as being an ­essential part of the nation’s technology-led move to zero carbon by 2050.

But Dr Forrest strongly rejects the idea that the federal government’s version of “clean hydrogen” – which includes hydrogen made from fossil fuels – is clean.

A hefty ad campaign launched by Dr Forrest ahead of the federal election declares: “A green hydrogen industry is our plan to reach net zero by 2030.”

Additional reporting: Nick Evans