I appreciate the time you are able to afford to reading this mail but i am afraid i am writing to voice my disappointment with the results of the recent REDP grants.
I really do see the times we find ourselves in as ripe with opportunity, as they are trying. We are obviously going though an economic shift at the moment but i believe it is being accompanied by a number of social shifts that we would do well to recognise and encourage. Environmental awareness, business ethics issues, social justice and the way people are becoming more willing to consider the repercussions of lifestyle decisions they make, are all gaining momentum. It is in this environment that you are making the decisions and directing the (currently substantial) spending that will set Australia's economic and social path for the next 20 years.
We have such a huge opportunity to enhance our position in a changing world and begin to shift our reliance on selling what we dig and drill out of the ground. Many countries in vastly more impoverished conditions than ours have taken bold steps to reduce their environmental loads and/or position themselves to take advantage of the clean energy revolution that is surely around the corner. I wonder why we seem to be lagging behind.
Why are we not taking advantage of our world class potential and world class research and development skills? We have huge geothermal potential, waves that lap up to most capital cities and are within reach of the majority of the population, vast solar reserves and countless companies that are designing ways of harnessing all this. Yet the government resources allocated to help these companies out and nurture our own green energy revolution are pitiful (certainly compared with uncertain ventures like the NBN).
In the case of the REDP grants they were promised...delayed....reduced....delayed again....reduced again and finally (in one case) given to an untried solution from an american company with a poor delivery record. There is a long tradition of Australian talent and ideas being forced overseas due to lack of support and recognition at home. In this case the home grown company (Carnegie Wave Energy) is being forced to garner support from overseas and will likely have to move their world leading technology out of australia for lack of government support. I might understand innovative australian companies not getting financial and regulatory support if there is no money available but the REDP grant of $30 odd million has been made to a company who is listed in the states and whose profits and IP are also likely to remain in the states. It seems to me unbelievably cynical or shortsighted (or both) for our government to back foreign companies with ties to resource companies that have a vested interest in the digging and drilling.
I have no issue with the resource based emphasis of our economy but it cannot last forever and to disavow the companies and the technologies that could easily see Australia as a major clean energy power in the future seems like an unforgivable wasted opportunity.
I am sure that there are factors at play that render my understanding of the situation simplistic...but remember that my view is likely to be shared by countless others, as i imagine, is my disappointment and frustration
Thankyou for your time."
CWE Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
