ESG will be something, if we are lucky, of an indication of what happens in the future regarding gas/LNG.
The follow up comments from my original should also include Juilar Gillards Sydney Institute talk last week. Almost all of it was about getting people to work.
What were the sub-texts.
Anybody who can swing a pick, make the coffee or can pass the ammunition is going to be under pressure to get a job - move your ass to a location where there is a job.
The official unemployment from 1950-1970 was 1-3% average 2%. Stigma to be on dole and wasn't great either.
If this doesn't happen expect hordes of foreign workers, in fact start getting used to it.
I had the sense watching JG's talk that somehow a light has gone on. The changes will be profound...and the penny has dropped. No more of the NSW Labour right spin your way out of problems and do nothing strategy. For the first time since WWII Labour is going to actually have to manage these transitions from coal to gas, GHG - rather than just dolly out money from one group to another.
The relevance to ESG is that there is a window in supply/demand and available gas until the shale gas gets ramped up, and infrastructure locally and internationally gets built to handle it all. Fortunately there won't be much money wasted on windmill and solar projects, just a bit of window dressing.
The only question now is, who is buying ESG and at what price and (not so essentially) when? The politics are sorted - just the great unwashed to get a handle on whats coming.
ESG Price at posting:
72.5¢ Sentiment: Hold Disclosure: Held
