My career has involved dealing with natural systems - soil,vegetation, climate- throughout a wide swathe of south Asia, Africa, the Pacific and Australia. I have learnt to admire the resilience of nature and the basic inertial energy of natural systems.
I despair when I hear the local ABC reporter asking listeners for their observations on climate change (not the local weather) over the last few months. There is too much misinformation in the climate (and for that read energy) debate.
I was bought up to accept scientific data that was backed by research which was peer reviewed. Now, almost any bit of sensationalist claptrap on the web can be repeated and embellished as fuel for vocal and media savvy pressure groups. It is truly difficult to come to a firm understanding of the science, since so much of what is reported is second and third hand, curtsying to benefactors and lost in its relevance.
That climate changes there is no doubt. How quickly and under what checks and balances from the inertia of interacting natural systems is another matter.
Back to CWE. We are probably arguing from the same podium. What I am saying is that there is a totally unreasonable expectation that new technologies for energy supply will develop quickly to displace our reliance on coal for base load. If there is a viable future in clean coal, for instance, then seize the moment because we can benefit from it while other initiatives are being sorted out.
You only have to look at the comment in this forum to understand the absolute frustration with the progress of wave power technology.
We are possibly overlooking the fact that this is a test site - it is a pity the Company has not stressed that in its earlier press releases instead of suggesting that the technology was further progressed and had more sexy outcomes (water purification)than it has. However that leads us back to the earlier argument - if you want funds you have to make the dry bun palatable.
This is a very interesting time in politics since it is the first time the Greens and similar "enlightened" factions have been able to put their manifestos front and central.
Throwing taxpayer money at new technology does in no way guarantee that the new technology advances any quicker. Eventually we get back to my earlier argument, that science develops from informed scepticism supported by rigorous peer review and confirmation. Throw other peoples' money around and you feed opportunistic sharks- got any spare batts round your place?
By its misleading public comment CWE has raised hopes and expectations, whereas its performance is far more prosaic. For the true believers it is possibly a long term hold, but these minnow Companies have a tenuous hold on life so don't hold your breath too long. Stock Doctor rates it as Distress, one step before the bye byes, so if there is a defibrillator in the office, don't forget where the key is.
CWE Price at posting:
10.0¢ Sentiment: Sell Disclosure: Held