Oh and another thing, as we know the US has so much gas they burn it by flaring it as an unwanted by product of oil exploration. Not to mention the gas pipeline infrastructure which allows supply to meet demand which is decades ahead of anyone else, their deep knowledge of the basins they have operated in for decades and technological achievements such as advanced geo-seismic imaging and horizontal drilling. Its not hard to imagine then that Souki reckons you can convert all coal power generation to gas in the US under a carbon pricing model and still have enough to export.
Amazing to think that Australia with such abundant resources is looking into $8-9 export parity pricing on the east coast because our goverments cant get their act together. And our LNG projects in Queensland are scratching around for gas. Yet the government is more concerned it seems with internet piracy than energy security. No wonder manufacturing in this country is dying and Australian companies like Incitec Pivot are moving to Louisiana. We cant live off the back of iron ore and coal forever.
Arent we glad MB had the vision to forge into the US market?
LNG Price at posting:
$4.35 Sentiment: Buy Disclosure: Held
