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As the share price drops again… :))
The Govt look at Beaconsfield - which they lost because they were threatening to ease the planning rules.
Tory councils are as bad as anyone at stopping oil & gas activity
Disagree, I have never seen as mass mobilisation against fracking or oil production in the UK, rather the only protests I have seen are from a minority of local residents, l sometimes supported by extremists such as extinction rebellion and the like.
"Most people are not bothered, "
They are at the idea that onshore O&G (never mind fraccing) affects the value of their houses
It's a little more complex than you think - see link below.
https://www.oxfordenergy.org/wpcms/wp-content/uploads/2022/03/Insight-111-Explaining-European-gas-prices-in-2021-the-role-of-the-traded-gas-hubs.pdf
I haven’t suggested fracking would lower prices, rather higher prices opens the door to swaying public opinion re its use.
Taking Penguines assertion on basics, it is - of course true the price of gas is tied to the world markets. However, there are other possibilities as well. If the UK became self sufficient in gas then the quantity we currentlly import would have an effect upon the world price which would fall slightly and currently with the high price of gas and oil, the industrial pressure is to cash in on it. This will, in turn, lead to an increased production so the world price will fall, and probably quite sharply too. . But, there are other initiatives that a UK government could take also, if we were self sufficient. In effect the world price would be unfairly stoking up unearned profits in the UK, because the actual production cost of oil has hardly moved at all, the high price merely amounts to gross profit taking in the face of an emergecny. Now that the UK is no longer a part of the EU, the rules the UK makes are its own to suit situations in the UK. . There are two possible moves the UK could explore 1. Ban the export of gas from the UK, that would have the effect of creating a competative market in the UK . 2. Threaten UK companies with a windfall tax if they did not reduce their prices in the UK . 3. Nationalise them if they did not cooperate .
Legalese
If fracking started tomorrow would UK fracked production be sufficient to influence world prices? That's not to say fracking shouldn't be tried but it would be unwise to suggest it would lower prices for gas in the UK.
This is what Kwasi Kwarteng tweeted at the time of announcing the review of shale gas fracking:-
'Kwasi Kwarteng@KwasiKwarteng
Feb 28
The wholesale price of gas has *quadrupled* in UK and Europe.
Additional UK production won’t materially affect the wholesale market price.
This includes fracking – UK producers won’t sell shale gas to UK consumers below the market price. They’re not charities.'
As for UKOG they have no licences covering areas containing a shale suitable for fracking for gas.
Most people are not bothered, and most people will be significantly less bothered as they increasingly feel the real cost of inflation and high energy prices in their pocket.
"I know crazy idea… pre Brexit who would have thought it was possible eh?"
Nothing to do with BREXIT and no Tory PM will upset the voters by approving fraccing - they're going to give you the power to stop your neighbours extension for heavens sake
…now throw in an energy crisis ala 1970’s and all bets are off imo.
https://www.nationalworld.com/news/uk/what-is-fracking-meaning-how-work-uk-advantages-disadvantages-explained-3688559
I know crazy idea… pre Brexit who would have thought it was possible eh?
With the price of oil and gas around the world along with the imminent increase in production from the water injection well at HH and all the gas ready to be turned on at Loxley along with if all else fails we can start fracking the hell out of everything next month, this must be a 10 x bagger…How silly does that sound?
Watch this space, fracking has no chance…
Let’s not forget the gov is now interested in fracking too
https://www.bloomberg.com/news/articles/2022-05-16/uk-plans-to-label-gas-as-a-green-investment-to-replace-coal?srnd=premium-europe&sref=Em01M8Hr
From Bloomberg's home page.
Yep.
That would be be beyond ludicrous.
That is how trolls think.
Realists are significantly smarter and do enjoy a giggle at a troll's expense.
:)
Skwizz.. scrolling through someone's history going back over 4 years is beyond insanity, it's not even of any interest to anyone! You really need to seek help mate! Atb.
Four years ago.
1.45p but that was too low back then.
I wonder what happened between then and now that 0.11p has become so much more positive.
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InvesterInvester
Posted in: UKOG
Posts: 1,405
Price: 1.45
Strong Buy
Why on Earth.....01 Dec 2018 14:43
... is the SP so low ? just can't understand it !!
================
:'D
Interesting viewpoint from two years ago:-
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InvesterInvester
Posted in: UKOG
Posts: 1,405
Price: 0.30
Strong Buy
goldplease26 Apr 2020 15:47
Hard luck lads, no-one will deny you tried. WHAT ????? what world of delusion do these trolls live in ! another for the filter bin...
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SP was still at the dizzying heights of 0.30p back then.
Shame really.
No-one can deny that he tried.
-3.69%, but don't let reality cloud anything.
Currently -1%.
SP 2p in afew months if not sooner... Now a VERY STRONG BUY... imo