If the government was really serious about reducing all forms of atmospheric pollution they would construct large scale renewable energy power generation, ie wind, solar, geothermal, etc. and progressively switch over the power generation.
Instead they are planning on implemented a tax on existing carbon polluters. This doesn't fix the problem!
The other problem any australian goverment is going to have is that coal export is the largest export for this country. It's a difficult to give up an $8billion export.
Also, I have recently sold out of all of my holdings in GDY. I still do believe in the company, however I can't see any point in holding GDY for the next 12 months (approx), and I'd rather have my cash in better short term opportunities.
I will keep track of GDY and look at re-entering when the time is right.
Butchy.
RNE Price at posting:
81.0¢ Sentiment: LT Buy Disclosure: Not Held
