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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.
Oh dear, f—-keep. First I bet on fracking, f—-ked, then Hurricane, f—-ked a second time. But lots of lessons learned, diversify your portfolio and the first loss is often the smallest. I’m sticking to the Telegraph’s virtual share trading game where at least it’s safe. Good luck all.
I guess somebody knows something we don’t. Look out for Wressle news soon.
Guess we should get RNS tomorrow, one way or the other, regarding possible farm out ....
From recent RNS “ Following an extensive farm-out process, the Company can announce that ERUK has signed an exclusivity agreement (the "Agreement") in respect of Licence P1929 and P2304 with a large internationally recognised exploration and production company (the "Counterparty"). Exclusivity has been granted to the Counterparty subject to a definitive farm out agreement or other definitive legal agreement(s) being entered into by 19 January 2020 and completion occurring by 19 April 2020.”
Cross ‘em.
Just been re-reading the recent RNS message.
“The Company notes the media speculation regarding the Warwick West well. The well is due to commence testing soon. The timing of testing is weather dependent. As such it is far too early to make any conclusions as to the success of the Warwick West well.”
I note this isn’t a denial. Does anyone else interpret the message as. “The rumours are true, the first signs are positive but we can’t say so yet until we’ve got the numbers”