less than 700000 buyers at 9.30am, page-18

I dont disagree with that

the rise was in anticipation of reserves ugrades and the "promise" of takeover activity

the slower decline is due to most holders still believing and a few bolting for the sidelines , in the absence of any great shock or +ve news like a reserves upgrade

a slow decline is still a decline and needs a catalyst to reverse

there has been a recent little shock - with the ETS being kicked into touch but if we have a DD election then it would be passed

even so the ETS didnt favour Gas and the big players ORG AGK are only building OCGT for fast start powergen

maybe between now and mid next year there will be some credit given Gas as a baseload powergen fuel over coal

maybe the Copenhagen bunch could give Gas a special pass

if you read the World Energy Outlook 2009 - and their 450ppm case - they dont see gas as getting a leg up as it is tainted by the C atom, and they emphasise the huge abundance of it

It would seem rational to recognise Gas as the ideal interim fuel - but when has Rationality got in the way of the thinking of those "highly compensated senior lunch-eaters"

we all have to draw our own conclusions