a lesson for everyone, page-19

Some light reading with regard to the above.

NSW Coal & Gas Strategy SCOPING PAPER February 2011

Like I said, not if but when the sector turns around. From
the above article:

"COAL AND GAS INDUSTRY PROSPECTS

The future of the NSW coal industry is tied to global
energy demand, which is predicted to increase by
up to 60% over the next 25 years. Two thirds of this
demand is expected to come from developing
countries.
Even with significant growth in the use of gas and
renewable energy, and the potential introduction of
carbon trading or emissions trading schemes, the
International Energy Agency (IEA) (under the
auspices of the OECD) predicts that coal as a
source of energy will remain much the same in
relative terms, but that there will be a significant
proportional increase in the use of gas, as shown in
the table below.

FORECAST SOURCES OF ENERGY TO 2030

Fuel Source 2002 2030
Coal 39% 38%
Gas 19% 30%
Nuclear 17% 9%
Hydro 16% 13%
Oil 7% 4%
Other* 2% 6%
Other = solar, wind, renewables, geothermal, waste
Source: IEA, World Energy Outlook 2009"

The 'Strategy' was open to public comment via forum
input and closed on the 14/04/11. Shouldn't be too long
before the 'Strategy' becomes the norm and we will see
some major re-ratings in this sector. With a domestic
energy market destined for change and an export market
aligned to meet the demand in growth, how can you go wrong?

The above figures speak for themselves....

Gaspew ;)