The collapse of Queensland's ZeroGen clean coal project is another sign the Labor government has lost control of its spending, the state opposition says.
Education Minister Cameron Dick on Friday confirmed the Bligh government had decided to "cut its losses", resulting in the ZeroGen project going into liquidation.
But he denied the failed scheme had cost taxpayers $116 million, saying the figure was closer to $108 million.
"The challenge of the 21st century is to find ways to deal with climate change," Mr Dick told ABC Radio.
"The fact of the matter is we invested in this proposal, we sought industry investment and commitment to it, but the technology is not such that we can continue with it.
"We're not going to put more money into it if we can't deliver the project and the proposal.
"We couldn't get the investment into it from the private sector.
"We have to wind the project down and that's what we're doing now."
Opposition treasury spokesman Tim Nicholls took the opportunity to list other projects and initiatives that had failed under Labor.
"Traveston Dam: $600 million; Tugun desalination plant was a desalination plant that hasn't been effectively fully used; a health payroll system that cost $220 million," Mr Nicholls told ABC Radio on Friday.
"And now we have a project with question marks on it from the beginning that has cost Queensland taxpayers about $116 million, it's cost the coal industry $50 million and the feds (federal government) some more money as well."
He called ZeroGen's collapse "a hallmark of a government that has lost control of the spending".
"And when you look at the cost to taxpayers, is it any wonder that the fuel subsidy had to be taken away?" Mr Nicholls said.
"Is it no wonder that electricity and water prices have gone up and the cost of living has increased so much?"
Environment group Australian Conservation Foundation said the ZeroGen failure showed the economy was moving on from fossil fuels.
"Despite receiving government subsidies of almost $160 million, the ZeroGen project has now collapsed twice in five years and we still have no commercial scale proof that carbon capture and storage actually works," economic adviser Simon O'Connor said.
"At the same time, investment in renewable energy globally is booming."
Mr O'Connor said last year, $243 billion was invested in renewable energy projects internationally, and analysts expected a further $5.7 trillion to be invested over the next 25 years.
"While one industry is stumbling and falling, the other is on fire," he said.
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