Niall - There will be some, but I think reasons other than the present ecogloom exist as well. Over supply, less people playing, younger population dont exercise, land prices soaring. Some of these things could change a bit, but really golf courses only need to be built where there are not enough golf courses and in the UK we probably dont have much of a niche for new ones, anyone trying to pitch a new one into a supplied market is taking a big risk now, a site would need to be exceptional, funding would be difficult, but there will always be an odd one and ofcourse I absolutely hope I am miles wrong.