IMO the ETS is not dead in the water. Sure it was voted down today. It will be interesting to see how this issue polarises the electorate and how the liberals market their up and coming election campaign.
I am not Lib/Lab/Green orientated, but I can see how Abbott may push his party to the right and allow the greens and labor to increase their base - it will all depend on whether them selling the idea that this new terrible 'tax' is actually that terrible. Interestingly enough though, the line he has taken since becoming leader is that he is no longer a 'climate change skeptic'? Seems to me the far right is already willing to come to the centre on this issue. To me this just displays that sooner rather than later a carbon schema of some sort will be in place.
Denis, to all the questions you raised on ESGs decline, I think the answer is yes to most of them. I believe what will simply be required is the reserves upgrade.
Cheers,
SF
ESG Price at posting:
79.0¢ Sentiment: ST Buy Disclosure: Held
