something to reflect on

Took particular notice of Martin Ferguson's speech at
Lnc's Chinchilla plant yesterday.

He stated the "obvious", that Australia is oil poor, but
gas/coal rich and we have to do more with our vast carbon
wealth, [absolutely] and that we have 500 years of known
coal resources [much of that is brown coal "Cougar meat"].

Ferguson's speech on Feb 28/08 reminded those in attendance
that Australia had only eight[8]years of known oil left.

Twelve months later April 22/09 he still comments on
reducing our dependence on imported oil.[.now we have
just seven[7]years of oil in the ground.]

An issue just as important as our declining oil supply is
our capacity to generate adequate electric power,especially
with the advent of the electric car,for Governments world
wide will push this vehicle into existence.

No one asks the question where will all this "extra"
power supply come from.Even if Australia were to go
Nuclear tomorrow,the lead up time would be 10 years
before that "unlikely" event.

New generation coal power plants like the one being
built in England,will take 6/8 years before it becomes
viable.

You guessed it....That leaves Cougar's 400MW gas driven
turbine,using UCG, with only a three [3] year lead up
time ..definitely way ahead of the crowd.

The economic worth of a country is in its electric power
generation,and with a growing number of coal-powered
plants starting to age, coupled with increasing demand
in peak periods..eg, Victoria last summer was just a few
candles away from power failure.."something has to give".

"Right Now" has to be one of the greatest opportunities
for companies such as Cougar..not only to use our black/
brown coal for "Very Smart Power" generation,..but with
right "timing" branch out into CTL,and really contribute
to Australia's self sufficiency in the fuel stakes.

If this Gov is really honest with itself in what it says,
then one of the best days work it will ever do is back UCG
development in this country..for time is running out.

I live for the day.

HM.