When coal prices hit a record $280 per tonne in 2023, Adani sold Queensland coal to Indian buyers for $100 per tonne, drastically reducing royalty payments to Queenslanders.
The current LNP government abandoned court action to recoup the payments in August this year, a case started by the former Labor government.
"Adani was almost giving coal away at mates rates right at the time when Queenslanders were struggling most with record energy prices in 2023," said Rod Campbell, Research Director at The Australia Institute.
"Just as the Federal government gives away Australia's gas resources for free, the Queensland government is now effectively giving away $400 million worth of free coal.
"That $400 million could have tripled the state's $100 Back to School Boost payment for primary school students or paid for a year's worth of free school lunches.
"Budgets are about choices, and the Queensland government has to choose between letting foreign-owned fossil fuel companies dodge their payments or whether to spend more on services for ordinary Queenslanders who are struggling.
"After winning the federal election, Prime Minister Anthony Albanese spoke of 'doing things the Australian way' and of 'progressive patriotism'.
"This new research shows that the Queensland government could use a dose of progressive patriotism as well.
"Despite being one of the world's largest exporters of gas and coal, Australians are paying high prices for energy.
"Meanwhile, the foreign-owned coal and gas companies like Adani are not just taking our resources, but they are really taking the piss."
