Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
What does it mean to me personally, Mr dt? Well, unlike your conventional well that pulls petrochemicals in from miles around through porous rocks, shale gas production requires many, many wells. Because the rock is not porous. Ineos say up to 396 wells in a 10km x 10km licence block.
I apologise for using a "silly pseudonym", Teggsy.
This is the fourth time in a under a fortnight that English councils have opposed shale gas plans and the second vote in 11 days against INEOS proposals. Plans by Cuadrilla in Lancashire and INEOS in Rotherham were opposed unanimously. A scheme by IGas at Ellesmere Port was rejected by ten to one. Today�s meeting, at County Hall in Matlock, heard from 16 opponents of the Bramleymoor Lane site, including residents, campaigners, local councillors and the North East Derbyshire Conservative MP, Lee Rowley.
Derbyshire County Council votes to oppose Ineos' planning application for Marsh Lane. The vote was 9 to 1. And its Conservative-controlled council. Are you beginning to understand that the people of our green and pleasant land do not want tens of thousands of onshore wells?
You are assuming the price will not be higher fro shale gas? The experts say it will cost more to extract in to UK.
A necessity? "our security of supply does not depend on new indigenous supplies� - GAS SECURITY OF SUPPLY published in October 2017 by the Department of Business, Energy & Industrial Strategy.
Cheshire West and Chester Council has unanimously rejected IGas� planning application to flow test the Portside well at Ellesmere Port. Meanwhile Rotherham Council has unanimously opposed Ineos' planning application to drill for shale gas at Harthill. The CEO of Third Energy has retired, whilst Greg Clark has said he cannot authorise Third Energy's fracking at KM8 until the company submits its overdue 2016 accounts. The industry is in disarray.
I see Egdon lost their appeal. No oil or gas production at Wressle, Lincolnshire.
Exploration company UK Oil & Gas has told shareholders that a section of the reservoir at its Broadford Bridge oil well in West Sussex is “unproductive” because of low permeability. Share price down 23%. Oops.
Good old Lord Howell has told the Daily Telegraph, fracking could be undertaken away from more densely populated areas, where property prices would not be put at risk. How far, my lord? 2km? 5km? 10km?
Clearly not.
No surprise at all. IIt's called democracy.
The land in the UK comes for free? No. Companies will lease the land from landowners - at a price. They won't have to pay royalties as in USA but they will still have to lease the land. Let's assume a fracking pad is 2 hectares; that's 5 acres. What will be the rental for 20 years? You decide. Oh and under the shale community agreement 1% of sales revenue will apparently go to communities (Ineos say they will pay 6%), so that's 1% of the profit straight away. And a £20,000 payment to a community for each and every lateral drill. Let's assume 14 lateral drills on a pad, as Ineos is predicting... that's 14 x £2,000 = £28,000. Hardly 'free'.
Yeah it's all wonderful in the US of A. BHP Billiton to sell its US shale assets to offload the underperforming business. http://www.bbc.co.uk/news/business-41008227#
So now we know that at Ellesmere Port in 2014 IGas drilled 1000m deeper than they had planning permission to do. Can they ever be trusted to do what they say they are going to do?
And yet a shareholder on LSE's UKOG Share Discussion site said less than an hour ago: "I'm afraid to say all the larges trades over the last 3 days were all the w***ers selling out including DL the chairman of ukog and all his mates !! Then they all shorted it !! Same pump dump that he always does! What a c**t !!"
He's imported only ethane as Liquid Gas (from which to make plastics) not methane for fuel.
So it relies on the "creation of a robust regulatory regime". Same in the UK. But the regulatory system is not robust enough - based on offshore regulation and self regulation. Until it is robust enough fracking should not proceed. Thanks for pointing this out.
“The shale industry is never going to take off because of public opposition”. http://energydesk.greenpeace.org/2017/07/14/uk-fracking-bank-loans-challenge/