Member Info for MarktheSpark

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.

I hope this isn’t just an attempt to push the issue into the long grass. When I hear the phrase “we’ll look into” an issue I wonder if it’s an excuse for inaction.
Let’s see if the instruction by the Oil & Gas Authority to plug the Cuadrilla wells is actually reversed. In any event once energy bills reach £3000 a year for the average household in the Autumn (as forecast by Martin Lewis) then Boris will be forced to take action. It won’t be Ukraine but the Tory right wing and public disquiet that will focus minds.
During the 2nd World War we managed to drill 100 wells in a year in the Nottinghamshire area, with American driller support and produced a small but useful amount of oil. We were facing a tyrant then and we are now. We can get a move on if the will is there.

Just to say that I have been involved in Igas for a long time and indeed bought my first shares at 110p. Ouch!
I too am interested in energy self-sufficiency as part of U.K. policy. Overall policy needs to balance four concerns.
1. The Environment - pollution and carbon footprint.
2, Cost - especially to the old and vulnerable.
3. Reliability - energy needs to be available 24/7 and needs to respond quickly in response to need.
4. Security - a variety of sources of supply with self-sufficiency.
Of course in recent years the environmental concerns have been given a disproportionate emphasis and now it all come home to roost.

A crane has arrived today at Cuadrilla’s fracking site where two wells are due to be plugged and abandoned after instruction from the Government’s Oil and Gas Authority. These wells have been partially completed and would have harvested a small but significant supply of home produced natural gas.

A crane has arrived today at Cuadrilla’s fracking site where two wells are due to be plugged and abandoned after instruction from the Government’s Oil and Gas Authority. These wells have been partially completed and would have harvested a small but significant supply of home produced natural gas.

Biden and Boris just about to announce a ban on US imports of Russian oil. This will push up prices both for oil but also for gas if Putin retaliates by cutting gas exports to Europe. it’s sad to profit on the back of Ukraine suffering but that’s the way it is. Off we go.

Biden and Boris just about to announce a ban on US imports of Russian oil. This will push up prices both for oil but also for gas if Putin retaliates by cutting gas exports to Europe. it’s sad to profit on the back of Ukraine suffering but that’s the way it is. Off we go.

Yes, looks like the energy crisis has now become Boris’ number one problem. It will be the headline in the Tory Daily Mail tomorrow influencing their key support. I can’t see how Boris can now refuse to back fracking, even if reluctantly. From the American point of view they must be annoyed and bewildered and indeed why should they help us out when we don’t have the sense to help ourselves. My feeling is that this issue will hit the fan in the next week.

Looks like the energy crisis has now become Boris’ number one problem. It will be the headline in the Tory Daily Mail tomorrow influencing their key support. I can’t see how Boris can now refuse to back fracking, even if reluctantly. From the American point of view they must be annoyed and bewildered and indeed why should they help us out when we don’t have the sense to help ourselves. My feeling is that this issue will hit the fan in the next week.

The problem here is that you have, like most of us, 20/20 hindsight. The hedging was presumably done before the last two phases of the COVID epidemic and before anyone anticipated the Ukraine invasion.
However regarding future business strategy I suspect that Igas had more or less given up on onshore O&G exploration which is why they diversified into thermal. I guess they will rapidly be making a U turn. Given all the recent support in the press and from the influential right wing of the Tory party I wonder if more people will be taking a punt on IGAS and EGDON.

Crude oil up to $110 per barrel and gas price up nearly 30% today with consequent increases in the cost of living for the average person, and Johnson STILL won’t allow fracking. Idiot.

Boris said a few moments ago “we must collectively reduce our dependence on Russian oil and gas” . Of course Egdon will benefit and more so if he pulls his finger out regarding the development of shale gas.

It would be truly mental for the council to oppose this appeal. They lost nearly half a million pounds of public money in legal costs awarded against them at the last appeal.
Perhaps more importantly (from Malcy’s Blog) - “What does it take to link the shortage and high cost of imported gas and oil to looking at safely operated, in the national interest supplies from the U.K.”

Nice to know someone is willing to explore the complications of U.K. energy policy. The Times headline tomorrow “Gas and car bills to soar under green revolution”. Yes, to me Energy Poverty Emergency and U.K. Energy Security of Supply Emergency needs a lot more coverage.

Yes, oil going to $80, gas up 6% today and rising, all of this will fuel inflation. The Russians and the Qataris are getting richer, but more Brits facing energy poverty and possible power shortages this winter. Boris is more concerned about green issues / headlines than whether we can keep the lights on. All this time East Yorkshire has enough gas underground to make a significant dent in our imports but we aren’t allowed to exploit it. Criminal.

All gone in a Trice.
One man’s pipe dream turned to ashes.

This silence is getting deafening.