Credit to Author: David Waterworth| Date: Sun, 09 Oct 2022 03:57:54 +0000
AGL, one of Australia’s largest coal-fired power station operators, is not having a good year. It has fought off a hostile takeover effort led by Mike Canon-Brookes, had to swallow the bitter pill of a failed demerger, and now is bowing to the inevitable and announcing the early closure of its fossil fueled fleet. Unbelievably, […]
Credit to Author: David Waterworth| Date: Mon, 12 Sep 2022 15:34:34 +0000
The new buzz expression for Australian mining companies that are leaving fossil fuel assets behind to chase greater profits is: “future facing commodities.” No virtue signaling here — it’s all about long-term shareholder value. CEO Mike Henry told a Sept. 8 shareholder call: “The divestment of our petroleum business and some of our smaller coal […]
Credit to Author: David Waterworth| Date: Thu, 16 Jun 2022 03:30:39 +0000
Breaking news from the Western Australian government: it is closing coal-burning power plants early, investing billions into renewable energy storage, and investing into attracting new industries and creating new jobs. We know that the economics of coal-fired powers have been coming under pressure for some time now. It’s been cutting into the viability of coal […]