Maybe, just maybe, there are still some elements of the ALP where good, old-fashioned commonsense still prevails. Other press reports today claim that the Minns Government in NSW has decided to extend the Eraring coal-fired power station beyond its planned execution date in 2025, with “government and industry sources” concerned that the pipeline of replacement ‘clean energy’ projects, now plagued by massive delays, will not deliver in time to maintain energy supply and security,
Excellent news, if that’s the case, not least for the people of New South Wales and for workers in the coal industry. If validated, this report suggests that there’s at least one State Premier who has the guts to resist the relentless pressure exerted by the green lobby in its various manifestations and to manage risk in a measured and responsible way. Chris Bowen would do well to take heed and follow suit, abandoning his reckless pursuit of ideologically-driven and impossible-to-achieve targets.
Among other benefits for WHC shareholders this latest report (if confirmed and validated) would strongly suggest that the Queensland-style coal royalties put in place by the Princess Premier and her Treasurer Dick (the largest in the world!) should be off the table in New South Wales. Surely? ……..
WHC Price at posting:
$6.61 Sentiment: Buy Disclosure: Held
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