what will turn this around?, page-8

SG

Yes near-term uncertainty and this will possibly hold over takeover activity. I think its a travesty that 1 vote for the leader of the opposition is enough to undo all the months of debate, negotiation and years of policy formulation on the part of the government .. that was elected with a mandate to act on climate change. The Libs even under Howard were moving towards an ETS and had it in their 2007 platform. Abbott changes his mind on issues according to what he can get out of it! At least Turnbull had some principles.

Casey said ESG can be successful with or without a CPRS and we have seen many gas-fired power stations built or planned in its absence. We will have an ETS but it is now delayed, but given that ESG is aiming at power station supply in 2011 and beyond that's not a problem IMHO. And they will have domestic and possibly export markets anyway.

How out of step will the Libs be if there is a high level political agreement from the 80 heads of state attending Copenhagen?

H