There must have been a $Billion or more sunk over a decade into the quest for an economic geothermal electricity project in Australia. The aim has always been for projects on a scale that could contribute to the grid and retire some baseload coal fired generators.
Last month I wrote about pioneer hot rocks driller Geodynamics Ltd GDY – in July I wrote about Seven “green” companies I checked in January 2011 – still poor investments –
Here are share price charts for six ASX listed geothermal energy explorers – most resemble disasters if you had invested a few years ago.
Greenearth Energy Limited GER
Green Rock Energy GRK
Geodynamics Ltd GDY
Hot Rock Limited HRL
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Raya Group Ltd RYG

Australian Geothermal Energy Association – as they say – driving the development of the Australian geothermal energy industry. Link from comment 9 previous article.
Can readers point me to notable progress in the sector.
We must remember that the sector took of last decade mainly because of the IPCC AGW scare driver a perceived need for “green energy” sources. Without that I doubt if many of these companies would exist – or of multi-$millions of Govt grants would have been wasted and still are being wasted.

I just about choked on my morning drinking choc on seeing this headline by Tristan Edis from the Business Spectator KGB – in my email inbox on Friday 4 Oct 2013. Full article.

Is there a parallel universe out in media-land? The renewables “industry” has had multi-$Billions thrown at it – for what result – higher electricity prices and a less stable national grid.
I have to think back to the Whitlam era and Minister for Minerals and Energy, Rex Connor to come even close to the 2008-2013 period of bad relations between miners and Govt.
At times I post on Resources issues.

In view of Professor Tim Flannery’s services being no longer required by the new Federal Govt – I was curious to have a look at the history of Geodynamics Ltd GDY – a green energy company that the good Prof was invested in.
GDY floated in late 2002 with a market capitalisation of under $20 million – the share price reached a peak of about $2.10 in late 2007 when there were 190 million shares issued – making for a peak market capitalisation of ~$400 million. It has been downhill from there and these days with shares at 10c the market capitalisation has melted away today to ~$42 million.
GDY has raised $220 million from shareholders over the 11 years – and also $107 million in Govt grants.
This year GDY has commissioned a demonstration 1MW generating plant near Innamincka. I see last month they told the ASX of an impairment of $88.8 million in their books re Cooper Basin assets.
Clearly it is a tough game at the cutting edge of developing a new “clean green energy source” at a depth of +3km under the Cooper Basin.
To see extracts of headlines that caught my eye – from lists of GDY ASX announcements over the 11 years. Continue reading Geodynamics Ltd – persistent Australian geothermal energy explorer – a quick history →

In January 2011 I checked out the sharemarket performance of seven ‘green’ companies on the ASX. Their performance had not been very good.
GEODYNAMICS LIMITED GDY
GREEN INVEST LIMITED GNV
GREEN ROCK ENERGY LIMITED GRK
GREENCAP LIMITED GCG
GREENEARTH ENERGY LIMITED GER
GREENPOWER ENERGY LIMITED GPP
CARBON CONSCIOUS LIMITED CCF
A year later I checked again, results still poor.
Here we are mid July 2013 – our new PM has just announced he will axe the Carbon Tax in favour of an ETS – let’s have another look at the seven green companies –

as my Table shows all show substantial falls in their share price in the three and a half years since January 2010.

I am putting this up in the hope people will send in links to articles which will hopefully explain the economic effects of the C Tax and now these planned huge changes.

As a starter Wattsupwiththat carries this article – Australia’s carbon tax – an expensive sop to the Greens?
I am curious to find out to what extent the C Tax is a giant money-go-round – “big puhlluders pay tax to govt while Govt compensates big puhlluders”.
No doubt our power bills increased but to what extent were they increasing anyway due to years of bringing in a raft of expensive and inefficient Green electricity schemes.

I see Andrew Bolt has – Rudd cools on global warming. To cut the carbon tax – AB will have a lot on this over time – also Catallaxy.
I like the quote from the AB blog – “All crap, from a party of liars.” Sort of quickly and neatly sums up the six years of Labor and GreenLabor for me.
Dr Alan Moran of the IPA has just sent in this address from last month.
Address to Rally “Stop These Things” Canberra 18 June Alan Moran, IPA
Continue reading New Australian Prime Minister Kevin Rudd now replacing Carbon Tax with emissions trading scheme or ETS →

Just told about this site – Vote No to Canberra’s power grab. Easy to get involved & have your say count. Disgraceful that taxpayers are funding the Yes vote to the tune of $21 million but zero funding for the No vote. National Institute on Aging recently reported that Alzheimer’s is not only important for cheap sildenafil uk the physical satisfaction but it is also important from the emotional point of view.As per the todays scenario, competiton is very high. However, spouses popping pills together discount priced viagra on their wedding anniversary is not exactly the height of romance. As they say, “A Stitch in time saves nine,” a problem that gets diagnosed at levitra 100mg pills the early stage of blepharitis then, avoid using eye makeups to prevent irritations. His spiritual writings can expose the modern man to God’s great words addressing the pain and levitra australia prices the confusions they are thrown into. The $21 million is planned to be made up of about equal amounts from the Gillard Govt and the Local Govt Association. Ratepayers should let their own local councils know if they want council funds going to support the Yes case.
I was appalled to read where this week all lower house MP’s except two Liberals – voted to hold the referendum.
On 14 September let us enjoy showing Canberra that we voters know exactly what to do when in the voting booths. My earlier article – Vote NO to referendum to amend the Australian Constitution to recognize local councils

A great contrast to Australia where children are “GreenWashed” to accept the turning off of their lights during Earth Hour.

Following on from my June 2012 post – Great Australian open borders experiment – come on down – and April post – Update chart monthly irregular boat arrivals – Australian borders still open, come on down
Data thanks to Michael Smith and Jeff of FNQ.

Following on from my June 2012 post – Great Australian open borders experiment – come on down –
Well the great Australian no borders experiment is still running. The monsoon season dropped numbers in the summer but monthly numbers climbed sharply in March and could challenge the Nov 2012 record when April is complete.
Updated again 2 May using 3436 total for month to date from Michael Smith blog
Updated 28 Apr using 2899 total for month to date from Andrew Bolt blog
quoting a 27th Apr article in The Australian

I would not be surprised if at some point a radically larger ship is sourced – some cheap old freighter headed for the scrapyards might be cranked up and used to ferry a whole months arrivals on its last voyage.
Notes re numbers
up to June 2012 my own research
July to Dec 2012 Andrew Bolt Blog
2013 Jeff of FNQ at Michael Smith
When I get time I will work through Govt announcements and build my own totals again.

My attention was caught by this loaded and evocative headline in the Canberra Times “Plant life losing battle with emissions”, for an article introducing the latest whizz-bang new CSIRO paper, “The Australian terrestrial carbon budget”, Haverd et al 2013.
Haverd et al say – “The Australian landscape soaked up one third of the carbon emitted by fossil fuels in Australia over the past twenty years…”
Which is at odds with the 1992 CSIRO paper by R.M.Gifford which said – “The present modelled rate of net sequestration is of a similar magnitude to CO2 emissions from continental fossil fuel burning and land clearing combined.”
What amazed me though was that the current paper does not reference Gifford 1992 when eight of the ten authors are from CSIRO.
I expect to have more to say later but here are a couple of graphics.
I have been trying to find the number for the size of the Australian carbon sink, not annual changes but gross size – the only figure I can find is from the 1998 website CompleXia titled, “HOW BIG IS AUSTRALIA’S SOIL CARBON STORE?” which says, “Preliminary estimates suggest that Australia’s soil carbon sink is of the order of 48 Gt (Gifford et al. 1992).” Thats 48 gigatonnes, 48,000,000,000 or 48 billion tonnes. Just to get that number on scale compared to the figures below, that is 48,000 Tg or terragrams used in Haverd et al and also 48,000 Mt or megatonnes used by Gifford – a megatonne is 1,000,000 tonnes, one million tonnes.
Summary of the Australian territorial carbon budget, 1990–2011. from Haverd et al 2013.

and Figure 1 from Gifford 1992

Ends here