I am under no delusion that my communications will in any way change the outcome of the ALDP, but I am happy in the knowledge that it has been passed from Victoria's Premier to the Energy Minister. My holding in ESI will never make me rich, but I am determined to see a fair outcome in a taxpayer-funded grant program, conducted by publicly-elected politicians.
Take a look at Shanghai Electric's buyout of Goss International in 2010 (US$ 1.5 billion), then the lay off of half the French workforce, then the liquidation on the premise the print industry was in decline whilst they were, themselves, building a plant in China. In April of this year, French unions told the press: "Its main interest was the acquisition of a well-established international brand name and with it the expertise and patents of a leading manufacturer, aiming from the beginning to transfer production to low-cost facilities at home...After siphoning our expertise and our patents, Shanghai Electrics wants to separate from the French company in the most odious way."
If ALDP funding goes the Shanghai Electric way, and "experts" from China are required to operate the demonstration plant (including making the tea), no one can say 'we weren't warned'.
If the full-scale plant is rolled out, operated by more Chinese "experts" and tea boys again. Some may rub their chins and grumble about all the lignite being exported to China.
And by the time the lights go out in Latrobe Valley, it might just be too late.
IMO
ESI Price at posting:
0.9¢ Sentiment: LT Buy Disclosure: Held
