extracts from clean energy future , page-4

I am happy for the Government, and the Greens, to 'spin it' which ever way they like. If they wish to use code for replacing coal with gas by hiding it under more benign umbrella terms, fine. Let them do what they think they have to politically, and we will bank the benefits of the REAL effects of the policy. Coal to be replaced by Gas-Fired Power.

There will be champagne flowing at ESG on Monday. They know the significance of this. As DC said, being in NSW rather than QLD will come to be seen as an advantage not a disadvantage.

So JG and the Greens can triumphantly be there on the day that coal-fired power stations such as Hazelwood are closed, even if she doesn't attend the openings of the new gas-fired plants at ERM's Wellington, and Origin's Kerrawary.

They will shout 'the end of coal', but whisper 'the dawn of gas'.

Putting on my ESG hat, all I care about is that a 'green light' :) has been given to the gas-fired power sector. Gas demand will rise dramatically, with more volumes of gas needed. Gas prices will rise. The value of uncontracted gas reserves will rise. The value of uncontracted CSG COMPANIES will rise. And, the 'reasonable likelihood' of various uncontracted gas resources finding a market rises also, because the market just got a whole lot bigger. All of a sudden, a new industry opens up that wasn't there before.

It is a major structural change. And ESG is at the pointy end of two separate gas booms - LNG and the burgeoning gas-fired power sector. Let the companies with the deepest pockets buy us.

Yaq