Federal Government has taken a diplomatic stance on the issue of assistance to the ethanol industry.
The PM speaking on Sydney radio yesterday said that the government is 'not in favour of mandating the blending of ethanol into petrol at this stage'.
But, the government had repeated stated that the benefits of ethanol blend versus pure petrol, such as cleaner burning and less environmental damage, plus massive savings in foreign exchange are part of the government's long term strategy. Better to get all the players on side voluntarily.
Indcor (ICO), an Australian company listed on the ASX, and a local manufacturer of ethanol, is strategically well placed to benefit from the government's commitment to making ethanol blend a permanent fixture of the Australian fuel scenario.
Deputy PM, John Anderson also said that a joint initiative now exists between the government and the ethanol industry to increase public awareness of the benefits of ethanol blend to the community.
IMHO, ICO will be one of the stand-out stocks on the ASX in 2003.
