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Mirasol, Many thanks for the clarification.
Can anyone turn these two messages into plain English please. Give the SP drop, I presume it wasn’t good news.
My guess about 54p if they agree to fracking, about 20 if they don’t. Keep ‘em X’ed.
The decision this week (or soon) on removing the fracking ban is enormously important for the U.K. given that “Some experts say 10 per cent of the resources would make the UK self-sufficient in energy for 50 years.” (From the Daily Mail). The government source quoted by the Mail seem to be very positive about a change but does this news get any coverage from the rest of the press? As far as I can see..almost nothing at all. It’s crazy.
The Daily Mail has suggested that the ban on fracking will be reversed this week so onshore production of oil but especially gas will be increased within a couple of years.
“Russia’s actions have made security of supply a bigger issue. And… gas produced here will have a lower carbon footprint than gas we are importing.?”
But….keep .’em crossed.
The Daily Mail has suggested that the ban on fracking will be reversed this week so onshore production of oil but especially gas will be increased within a couple of years.
“Russia’s actions have made security of supply a bigger issue. And… gas produced here will have a lower carbon footprint than gas we are importing.?”
But….keep .’em crossed.
Reported in the Telegraph “An announcement on fracking is coming next week, says Kwasi Kwarteng, the Business and Energy Secretary”.
Reported in the Telegraph “An announcement on fracking is coming next week, says Kwasi Kwarteng, the Business and Energy Secretary”
British Geological Survey report due to be handed to the government today, maybe the rise is a rumour of positive response.
British Geological Society Report due to be h
Dunno, other shale shares, eg EDR not following. Maybe takeover rumour not known to us ordinary mortals or maybe IGAS seen as 3 way bet by investors, 2000 barrels of oil production with 120 handle on the way, shale prospects and thermal heating developments on the way.
Mr Kwasi Kwarteng said this week “we cannot escape the fact geopolitics has changed. He said: “We have always been clear that shale gas could be part of our future energy mix, but we need to be led by the science and above all we need to have the support, the ongoing support of local communities.” That’s the nearest thing to a U turn in energy you are likely to get.
Yes, Amrita Sen, respected O&G expert suggested on Bloomberg today that gas rationing is very likely this winter in Europe. It is unlikely to be imposed on domestic customers who will be protected but still a huge blow to growth. On top of a summer of discontent and 10% inflation it looks grim for the economy. The issue of shale gas as part of the solution just won’t go away. There are already 30 -40 MP’s onside.
Yes, brilliant news, we now have to see how the local authority responds to the plan for the new gas pipe into the National gas system. Surely they can’t object given it will reduce flaring and in the face of the Heat or Eat Emergency.
No BS this price drop is absolutely mental. Russia has just cut off supplies to Poland & Bulgaria which will put a rocket under gas prices this week. The oil price will follow on especially when the inputs from the strategic reserves run out in the summer. The whole issue of energy security will come into greater focus over the next few weeks. Egdon is in prime position to benefit from these changes.
When Kwasi Kwarteng spoke about shale gas he said…”It remains the case that fracking in England would take years of exploration and development “. So his alternative announced today is 8 new nuclear power stations that take 20 years to come on line. Doh!
Sadly I tend to agree, given the very one-sided brief which has been given to the BGS. I hear the sound of cans being kicked down the road. I think it will take another sharp increase in prices and possibly public disquiet before Boris does the sensible thing. I would also hope the US government might give a strong nudge that they are unhappy we are not doing enough to help ourselves.
Sounds like Mark is saying that it’s a pretty easy task (in their terms) to buy and install equipment that will clean up and process the gas coming from the well ready to be added to the National gas grid. I don’t suppose it will be quick given the need to get various permissions but the prospect of extra revenue in the future Should ensure the SP is not effected by the delay. The country is criss-crossed with gas pipelines that distribute our gas. I guess the cost will depend on how far Egdon is from a pipeline. The other options would be to have a smallish gas to electricity unit onsite or to compress the gas and take it away by tanker. He will no doubt sort out the most profitable option over various time scales.
By the way the Daily Mail today raises the possibility of petrol rationing in the next few months, a prospect also envisaged by a knowledgeable Bloomberg reporter recently. I wonder if the North Lincs Council feel it was good value having to pay Egdon’s £400K costs objecting to the Wressle development!
Let’s just look at a couple of scenarios…
?Martin Lewis last night says, without government action, the energy price cap will rise in October to over £3000. The median household income in the U.K. is £29,500 which means OVER HALF of U.K. households will fall into the government’s definition of fuel poverty.
?The Europeans have committed themselves to reducing their dependence on Russian oil and gas. This means competing with the Far East for very drop of LNG and crude oil on the market. A Bloomberg commentator suggested today that high prices might turn into shortages and rationing (I’m old enough to remember the 1970’s) with the prospect of “car free “ days.
The Russian foreign ministry has said “Sanctions…….leaves us no choice but to take proportionately tough retaliatory measures,” . It seems very possible that this could mean restricting European access to Russian oil and gas.
If I were the British government I’d be looking, short to medium term, for every source of energy I could get. I suspect that he would like to push the issue fracking into the long grass by “looking into the matter” but ultimately he will have to make a decision.
Let’s just look at a couple of scenarios…
?Martin Lewis last night says, without government action, the energy price cap will rise in October to over £3000. The median household income in the U.K. is £29,500 which means OVER HALF of U.K. households will fall into the government’s definition of fuel poverty.
?The Europeans have committed themselves to reducing their dependence on Russian oil and gas. This means competing with the Far East for very drop of LNG and crude oil on the market. A Bloomberg commentator suggested today that high prices might turn into shortages and rationing (I’m old enough to remember the 1970’s) with the prospect of “car free “ days.
The Russian foreign ministry has said “Sanctions…….leaves us no choice but to take proportionately tough retaliatory measures,” . It seems very possible that this could mean restricting European access to Russian oil and gas.
If I were the British government I’d be looking, short to medium term, for every source of energy I could get. I suspect that he would like to push the issue fracking into the long grass by “looking into the matter” but ultimately he will have to make a decision.