Australia's new government may cut a vital subsidy to oil recyclers.
Tim Rose, managing director of Australia's largest oil recycler, Southern Oil believes this could leave the oil recycling industry unviable. "The Gladstone plant is only the fourth refinery in Australia, and we own two of them - it's not a big money spinner, so people aren't generally investing in the sector," he said.
The company handles 80% of Australia's total recycling operations and relies on the subsidy to continue in business according to Rose. The governmental move would appear at odds with other parts of the world - such as Russia, the US and Europe - where recycling is being actively encouraged and expanded.