Yes I think you are right apart from the fact that Australians just cant see money being made from such a simple thing as wave power. That of course includes the ever so smart government types.
I mean really we should be having catastrophic failures like snapping drill shafts in wells or well heads cracking and spewing steam and hot water around then maybe the federal government might throw 90 odd million dollars at us.
At present the worst thing that can happen is a buoy might float of in high seas and get washed up on the beach, yep not too exciting that, probably just end up in someones back yard beside the Barbie something to lean on. Basically I see the federal funding as sort of an entertainment subsidy, every one was talking about the drilling incidents for some time, well its easy to understand we have a great tradition with drill rigs, it conjures up all sorts of images of blokes doing it tough in the dry interior makes for good pictures on TV and great interviews for Pollies.
What have we got that can compete with that? A couple of blokes in thongs on a boat, one drops the rope because there's a fish on one of the lines, that's hardly going to entertain the nation.
Besides it just doesn't cost as much to set up a bunch of underwater buoys, not like drilling away for years with a big expensive board of directors having meetings and taking Pollies out to lunch. Nope a couple of banana sandwiches for the crew just don't compete, after all our jackup rig was in and out with no major fuss, no problems and no political mileage.
Yep bottom draw for a while, at least till we have an explosion at sea so a federal investigation committee can get stuck into it and the TV people really get something to put on the screen.
Damn this safe reliable technology.
CWE Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
