Green stocks. A picture tells the story.

No need for 1000 words to tell this story.

Try Australian geothermal. High hopes in 2008.

Not so hot rocks in 2012.

Geodynamics 2008.

Geodynamics is the Australian pioneer in this field. Thanks to an intensive drilling program it has established the presence of large underground hot rock formations superior to any others known elsewhere in the world. It is the largest and most advanced of all the Australian companies, and hopes evenutally to build a $770-million, 300MW power plant.

Geodynamics 2012. If you can get past the paywall you find that the stock has fallen from 40c in 2011 to 15c this year.

How is Olympic Dam going these days?

This entry was posted in Uncategorized. Bookmark the permalink.

16 Responses to Green stocks. A picture tells the story.

  1. I’ve been watching the Geothermal progress for a while, and it seems to be one of those cases where once its engineering challenges are sorted, it will take its place amongst viable power sources like fossil fuels, hydro and nuclear.

    So sure, not much joy in the last few years, but that could change quickly. It’s not completely borked like solar, or even mostly borked like wind; its early in development.

    But like a lot of energy sources we now take for granted, development has taken longer than expected.

  2. jumpnmcar

    Not what Dave Lescinsky and Tony Budd from Geoscience ( .gov/au ) say.
    They got a Super computer and everything.

    The project is the work of GA scientist Dr David Lescinsky, who used supercomputing facilities at the Australian National University to develop more than 500,000 individual models.

    And I recall Albo, on the last day of sitting ( in the am when formal biz and boring stuff is uttered ) flagging some sort of tax incentive on exploration.

    { Couldn’t be fuck wading through hansard, short life and all }

  3. jumpnmcar

    * Could’ve been the 2nd last day of parliament for the year.

  4. Jannie

    It one way to get Greenies to focus, well the better heeled ones anyway. Would you invest your money/super in this scheme? They live with a certain amount of cognitive dissonance, but I know at least some of them are true to their self interest when the vote in private.

  5. Jim Rose

    on http://wattsupwiththat.com/2012/12/06/is-green-energy-a-fad-that-has-run-its-course/ do green senators weight their super portfolios towards green investments?

  6. brc

    I haven’t looked at WUWT for a long time, but it’s amusing to see commenters turning up with 2008 era talking points and stamping their feet.

    Don’t they know they’re supposed to use terms like ‘dirty weather’ and ‘extreme weather’ these days?

    The whole global warming movement is very LOL these days. You’ve still got your commenting warriors who go purple in the face. Theres a few who have woken up to themselves and pretend they were never a raving climate change zealot, and everyone else wishes it would all just disappear like the multi function polis and become yesterdays policies. Including the politicians themselves.

  7. Rabz

    Theres a few who have woken up to themselves and pretend they were never a raving climate change zealot, and everyone else wishes it would all just disappear like the multi function polis and become yesterdays policies. Including the politicians themselves.

    No. The evidence of their idiocy remains, thanks to the power and glory of teh interwebz.

    That elephant never, evah forgets.

  8. Ian Macmillan

    I think we have to be fair to Geodynamics et al, because even though the share performance has been abysmal, I think that anyone aware of the technical challenges involved would know that this is an experimental enterprise that has to overcome a lot of unknowns and accumulate experience.

    The potential upside is considerable, even if it is taking too long. I put my money where my mouth is, and live in hope, if not trembling…

  9. Poor Old Rafe

    What is the point if we have enough cheap coal to last for hundreds of years?

  10. NoFixedAddress

    That elephant never, evah forgets.

    And the beauty with smart meters is that you can shut off the power to the f*ckwits that ticked the green energy option whenever the wind stops blowing or the sun goes down.

  11. NoFixedAddress

    added to that

    anyone that has a solar panel on their roof should immediately have their power from the grid shut off when the sun goes down….

    Mind you….they can pay a fee to get coal fired power….about 10 times current highest rates might get them some power….

  12. Louis Hissink

    Underlying the whole debate is understanding the origin of petroleum and coal.

    Put simply oil and coal are deposits of prexisting life, fossils if you wish.

    Evidence?

    Plenty if you want to support the logical fallacy of arguing the consequent that, in its simplest terms, argues that as my cat has 4 legs, as does my dog, then my cat is a dog.

    Noooo.

  13. It’s like painting your house – estimate how long it takes and double it. How ever long you expect it to take, it’s never enough.

    I saw a doco a year of so back where this guy used what was essentially a blowtorch as a drill. It went through a meter of granite like a hot knife through butter. Drills encounter massive pressures which suffers from the law of diminshinv returns. Maybe the blowtorch encountered the same problems. It works in Iceland where the volcano is just below the surface. Australia might b a little tougher.

  14. alan moran

    Pacific Hydro, perhaps the major wind busienss in Australia is owned by the union super funds. They have funds of $28 billion but don’t indicate what value they place on PacHydro. If it is $1-2 billion they have a strong vested interest in keeping the subsidies without which the firm, depending on the contracts they have, could be near to valueless.

    To hold up the value merits much lobbying expenditure. If the government subsidies dry up that means a gaping superannuation hole.

  15. .

    Yes Louis. Oil is both biotic and abiotic.

    Oil found below the crystalline bedrock level has fossils in it – must be biotic.

    …or it got mixed with some abipotic stuff.

    The fact that comets and other planets are basically frozen rock and space LPG means nothing to these turkeys pushing 1950s era science.

    How did all of that oil at that level get fossils in it? Ever noticed they are basically micro-organisms or small leaf debris? Ever noticed it is in far smaller proportions than oil found nearer the surface?

    So only a small proportion of it leaked down.

    We will also never run out of oil and cohenite has produced research which basically says the greenhouse effect has an upper limit where the earth starts emitting radiation like a black body in space. The “excess heat” isn’t in the ocean, that’s why we can’t measure it. It is going out to the edge of the universe.

  16. What is the point if we have enough cheap coal to last for hundreds of years

    We have enough Thorium to last for 1000+.

    Both are irrelevant statements to some extent. We can do what we are doing, we can do something else, as long as we have power sufficient to the day, and cost effectively so.

    Besides, if we power ourselves from geothermal, we can export the coal.

Comments are closed.