I don't like to get into politics on this website, less still opine on them. Investors should be above all that. But in a detached way, you can't ignore the shift (and the opportunity) that will occur in Australian alternative energy policy, assuming Kevin Rudd wins the Australian General Election tomorrow - not entirely certain.

This is what he said in his final plea to voters in a newspaper today;

"Labor will immediately ratify the Kyoto Protocol and establish Australia’s first national emissions trading scheme to provide the framework to meet a carbon target of reducing our greenhouse gas emissions by 60 per cent on 2000 levels by 2050. We will implement a renewable energy target of 20 per cent by 2020. Our $500 million renewable energy fund will help develop and commercialise solar, wind, geothermal and wave power projects, in addition to our $500 million national clean coal fund. We will set up a desalination and urban water recycling fund".

Considering that Australia, a fast-growing developed economy, generates roughly 9% of it's electricity - mostly hydro - from renewables, this target will be tough going. The headline story here though will probably be the Kyoto Protocol and the impact Oz will have on carbon trading.