ferguson on ctl

I hope GLX holders were 'fired up' by yesterday's story in the Financial Review with Resources Minister Martin Ferguson vowing to consider new investment incentives for large Australian CTL and GTL projects in light of the global oil crisis.

He said 'the Jeddah meeting would lead to more work on new technologies to produce diesel - a fuel type subject to severe shortages - from conversion processes known as gas-to-liquids(GTL) and coal-to-liquids(CTL)'.

Ferguson likened the GTL and CTL investments to the massive government support for the development of the North-West Shelf two decades ago and suggested Australia could not only create its own projects but could play a part in similar investments worldwide.

He noted that Government incentives would be necessary and that it was 'a matter of having proper discussions with the industry to see what the barriers are and then working in partnership to see if we can develop these industries in Australia - and where else we can develop them in the world'.
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You can bet Mike Rann will be in his ear. Ferguson is respected in exploration and investment circles. He's seen as a straight shooter, knowledgeable and into the big picture. A mate of mine was recently at an exploration conference and said delegates were delighted to see the Minister mixing with them at the end of session drinks. Said he couldn't remember another Minister coming down and 'shooting the breeze' in this way before.

I think Rudd will soon give up on the populist energy fixes and deliver his BIG vision. I'll eat my hat if coal to liquids/power is not at part of that vision.

IMO the GLX story is just commencing folks. Sellers are nuts.