But publically, Rudd was still talking very tough on the RSPT. All the while, he was about to announce major concessions with the CSG sector (to make it even more lenient than the PRRT).
So, as thewogboy quite rightly pointed out, just because a politican says something, does not mean we should take it at face value. :)
Talk tough publically (look Prime Ministerial), whilst negotiating the policy down to something akin to a damp lettuce leaf in the background. This is what Julia Gillard is doing.
I agree with Jake. Labor are not fighting an election against Tony Abbott and the Miners. Take the Miners and the disasterous RSPT out of the equation, and the election is potentially winnable for Labor. They know this. (And accordingly, Labor is already backing away from the spending promises/tax cuts/super promises that relied on the revenue from the 40% RSPT).
Get ahead of the game with your investments, and anticipate what is going to happen politically before it happens...
There will be a FLOOD of news in the CSG sector after this is cleared up - LNG MOU's, offtake/equity deals, FID's, and M&A activity.
We are in the calm before the storm.
Y
ESG Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held
