MF2017- You asked me ... Is creativity the problem?22 Oct 2021 14:01
MF2017 The problem is all down to bad planning. There have been lots of mistakes made with regards to hydrocarbons and fossil fuels. Some believe they can live without fossil fuels in their economies and what you see now is the testament. Some countries have not built their stocks of gas or coal. The wind has not been very blowy. Even with OPEC+ good management oil price has increased but no way near as much as gas prices. if things were planned better we may not be here.
Stability and balancing the market is important. Next year will be a challenge. OPEC+ meets monthly. Oil producers are benefitting an OPEC+ will continue what they are doing. This is great for Union Jack Oil as we are seeing with Wressle income.
Saudi Arabia have the right formula and will use oil, gas, shale, nuclear, hydrogen..renewables.. They will become an 'energy company’ and even more competitive. This is what the UK should be doing and councillors rejecting Oil an Gas projects in the UK is a BIG mistake.
The answer in my mind lays with the fuel of the future and everyone should build technologies to calm the emissions globally. We have that to offer in the Humber region for West Newton and of course our AA Carbon Intensity studies for West Newton and Biscathorpe.
Energy security is crucial as is climate change and can should be worked together in harmony.
If countries narrow their choices you see today the problem that they will face.
This winter is a good chance to rethink approach, priorities and better choices for the future.
The OPEC + charter does not just work on the markets and there will be a chance for them to work together collectively in other ways.
I think that the hardest meeting for OPEC + was when they did not meet an agreement in March 2020 , but the following month’s meeting in April was the most successful . They had their differences and they managed to sort and deal with them in a serious way. Will we deal with Putin the same and come to agreement with gas ?
We certainly arent at the moment.
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