1.5 million shares just bought, page-5

compensation by labour government regarding clean coal technologies may be larger than expected ,to nullify the impact of ETS.
IMO this will tip the balance for an institutional interest in ESI.
GREAT FIND amazed.
" COAL will continue to squeeze out renewables as an efficient, cheap source of energy, even with a cost of carbon many times higher than currently envisaged in the Rudd government's emissions trading scheme.

According to a secret independent report commissioned by the NSW Labor government, the abundance and efficiency of coal, along with new technologies for cutting emissions , mean coal will undercut the price of electricity produced by wind or solar for "many years"...

According to Mr Hunwick's report, even a carbon price of $100 a tonne, about four times what is currently proposed, would leave coal well ahead of rivals such as wind, solar and gas...

His report urges the Rees government to proceed with a new coal-fired baseload power station or risk losing its aluminium smelting industry , which will move offshore unless a reliable power supply is guaranteed...

"With the application of modern technology and with suitable encouragement, stick as well as carrot, coal can continue to maintain its competitive advantage as a fuel for power generation for several decades to come, and do so in an essentially sustainable manner," the report says.

"They may want to wave a magic wand and make coal go away, but they're not going to," Mr Hunwick said.

"The name of the game has to be to clean up existing coal-fired power stations and make the new ones cleaner.

"Even with a carbon price of $50-$100, coal still looks like being more than competitive with most of the alternative sources of electricity going forward, including gas and renewables."

http://www.theaustralian.com.au/news/nation/study-backs-coal-over-renewables/story-e6frg6nf-1225801867522