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Here is an excerpt from a speech that Bill Gates gave recently to the Lowy Institute in Sydney Australia -- thanks to a post by Shake It on the Empire chat board -- (with Shake It's own comments over the first two paragraphs and the Gates excerpts after Shake It's two paragraphs).
The Greens and Teals have Labour Party's Albo over a barrel with their numbers in parliament. As we know it is Green policy to ban all gas mining and ultimately use in Australia. As a shareholder in EEG it is in our interest to fight back with facts, hence this thread to help spread the positive stories about gas and especially the additional advantages of the resource in The Beetaloo.
Public opinion is shaped by the weight of media releases, having science on your side isn't enough if your friends and family don't hear about it. So spread the word. Start with this positive news from someone most people respect... Yesterday the undeniably smart and altruistic Bill Gates stood up and defended the role of gas in the journey to improve both the welfare of third world people and the environment.
"Mr Gates said he supported ongoing use of gas both for the developing world as a basic necessity and to create new energy from hydrogen.
“(Gas) is unavoidably a transition fuel,” he said after an appearance at The Lowy Institute in Sydney. “What can you do? It is there. It is not going to be banned. The ideal is that we can convert it into hydrogen at low cost.
“Poor countries should not be blocked from either using domestic or imported hydrocarbons until the rich world first and then the middle-income countries second can make the substitute technologies as inexpensive.”
Here is an excellent ABC News article from the Empire Board where Underwood is outlining plans to sell Beetaloo gas to the NT to help offset shortfalls from the Blacktip field.
https://amp.abc.net.au/article/102078442
Thanks Hardrock, as this at least gives us some idea of what Tamboran might be trying to work around, and as you mentioned -- "hard to know without being there".
Some update by Tamboran on exactly what steps they are taking -- would be a smart move to my mind -- as the lack of news is creating a very uncertain environment with more selling coming our way for as long as Tamboran stays silent.
Longknife -- you definitely aren't whining or yelling fire -- as $.05 might even be a bit high if the flow news is 3 mm cu.ft or less per day??
If we are stuck waiting until the end of May -- it almost makes you wonder if selling last week would have been smarter than hanging on for this upcoming six week slow drip downwards?? Then again -- any leak from the site and any selling now could be caught on the wrong side -- as flows over 5mm should see the price double fairly quickly. Maybe we should ask our resident expert on selling high and buying low -- which is jfhealy. I think that jf has timed his selling in the past extremely well and might be close to playing with OPM (other people's money) by now -- LOL
Hardrock, Without giving away any confidences from associates that may be working in the Beetaloo, (as no one here expects anything of the sort), but I was wondering if you could give us any scuttlebutt as to whether the Amungee H2 is progressing as planned, or if possibly the Pioneer Team has run into real technical issues trying to clear that well??
Falcon's stock on the LSE and TSX is drifting lower every day now -- as it has almost been a month since the fracking was completed -- yet we have no flaring and no news as to how good or how bad the Amungee H2 is doing. If we have to wait another three or four weeks to get any news -- Falcon's share price will most likely give up all the gains since the horizontal leg was completed in 2022.
LongFOG -- if Poods sold off his shares -- we would all be crying as one cent or one pence would be our new low -- LOL.
I would gather from reading your totally incorrect post about Poods -- that maybe you haven't been on this forum for very long, as Poods is a well respected somewhat irregular poster to this Board. What Poods has to say will mostly be well received, but your post today is hopefully the last of your string of nasty posts!! Most posters to this Board try to add Falcon relevant information that helps us all deal with this sometimes very frustrating stock, but don't attack other posters.
While the legislation out of Canberra is of some concern, (as politicians very seldom make the right decisions on anything) -- it is also worth keeping in mind that the Green idiots have just made the Beetaloo gas much more competitive and most likely increased our future selling prospects.
If you look at the cost factors that all gas fields will have to deal with in getting to Net Zero in the future -- the Beetaloo now has a distinct advantage as our costs to offset 3 or 4% CO2 levels will be the lowest offset costs of any gas in Australia. Tamboran, and Empires offset costs will be four or fives times less than just about any other gas fields in Australia -- including Barossa, and even Inpex's Browse Basin gas which have CO2 levels of 14% to 18%.
The Green Party is crowing about killing the Beetaloo with this new legislation -- but the truth is completely the opposite, as now the Beetaloo gas has a significant cost advantage over most gas fields in Australia. I am fairly sure, from an old technical paper I read years ago, that the Beetaloo gas is so much lower in CO2 concentrations is mainly because the methane gas was created when billion year old green slime broke down which held less CO2 than the traditional gas fields from ancient forests that held much higher levels of CO2.
Whatever the reason is for our lower CO2 levels -- this Green party initiative has most likely given the Beetaloo a boost -- which is good news for the environment and even better news for us!!!
You may be right about offshore rules dprussky -- but if there were any offshore variations that would have helped Santos -- then I think Gallagher would have mentioned them during the AGM.
With the weather clear over the Amungee for five of the next seven days -- would you use your eye in the sky special satellite talents -- to see if you can spot any flares, as there should be some flaring by now I would think??
Santos updated their investors at their AGM late yesterday with news that they are moving forward with their Barossa offshore gas field even though it has 18% CO2 levels that will need to be offset.
This is possibly good news for the Beetaloo with only 3 to 4% CO2 levels that will need to be offset, but we need that commercial flow rate soon -- as that is our absolute key to finding the best way to work around this Green initiative?? While the details on how that low Beetaloo CO2 percentage will have to be offset -- it is encouraging to hear that Santos believes they can make an 18% CO2 gas field work. Here is a lengthy clip from the Santos AGM, but the full article is on the Australian publication -- where Gallagher takes a real hard swipe at the Labour Party's caving in to the Greens.
Santos has doubled down on its criticism of government intervention and red tape
in the Australian oil and gas sector, but reassured investors its $5.8bn Barossa gas
project in the Timor Sea remains on track despite the uncertainty surrounding
changes to the federal government’s safeguard mechanism.
Addressing shareholders at the company’s AGM on Thursday, Santos chief
executive Kevin Gallagher said the project was still on track to commence
production on time and on budget in 2025, but underlined the importance of the
company’s proposed Bayu-Undan carbon capture and storage project in meeting
the company’s environmental obligations.
Given the CCS infrastructure in Timor-Leste is not expected to be up and running
until 2027, Santos plans to offset its emissions at Barossa in the first two years of
operation by acquiring carbon offsets.
The new safeguard mechanism rules, due to come into force on July 1, require all
new gas fields for LNG export to be carbon-neutral from the time they start
producing.
Speaking after Thursday’s meeting, Mr Gallagher said the company remained
committed to the Barossa project, which would become one of the world’s least
carbon intensive LNG projects after commissioning of the CCS development.
“We’ve already invested in the pipeline, the Darwin duplication pipeline that
allows us to use the existing Bayu-Undan pipeline for the carbon capture project,
so we’ve invested a few hundred million dollars in that pipeline,” he said.
This press release by Tamboran is old news, but the second page is new I think and worth a quick read.
On the second page -- Tamboran compares the Beetaloo 3% CO2 to some of the legacy fields in Australia and shows a massive reduction in GHG (green house gases) if Beetaloo gas were switched in place of some of the older fields going forward.
file:///C:/Users/User/Downloads/2A1440639_TBN.pdf
dprussky -- I really hope you are right, but the Labour Party and the Greens have a very narrow majority in the Senate -- so not sure if that political balance would block the legislation??
https://www.bloomberg.com/news/articles/2022-06-21/australia-s-left-narrowly-wins-balance-of-power-in-new-senate#xj4y7vzkg
I think that stellar flow rates are still our best chance for sanity to find it's way back into the Labour Party in Canberra, as the Labour Party in the NT is fully supportive of ONLY scope 1 and scope 2 emission controls for the Beetaloo.
Hoping you can get a clear Sentinel shot with some flaring in the next few days. Thanks in advance!!!
Here is a link below to one the better overviews on how this current Federal gov't is trying to kill the Beetaloo with some good comments by opposition leaders and the Japanese Ambassador calling for changes??
"State and territory energy ministers have been tasked with trying to hammer out who should pay for offsetting or capturing carbon emissions from the Northern Territory’s Beetaloo gas project under this week’s Labor-Greens heavy emission reduction deal.
"In what appears to be a first for a potential mega project, the deal means Beetaloo’s so-called scope 3 emissions – which are those of its downstream customers – would need to be accounted for to ensure the project is net zero from day one".
“These laws will most likely scuttle crucial gas projects, worsening the gas crisis, severely hampering our ability to balance the budget and denying people good-paying jobs in regional Australia,” opposition resources spokeswoman Susan McDonald said".
"Japanese ambassador Shingo Yamagami said Japanese businesses were playing close attention to state and federal policies targeting fossil fuel projects".
"Japanese businesses are paying attention to the possible impact that these developments could have on the investment environment in Australia as well as the reliability of resource and energy supply from Australia to Japan,” the ambassador said".
“When I say Japanese businesses, I am not talking about just those operating here. I am told that the boardrooms of the headquarters in Japan are increasingly paying attention to the situation in Australia".
https://www.afr.com/politics/federal/in-world-first-beetaloo-carbon-emissions-land-on-states-consumers-20230328-p5cw06
Hardrock, if you get a chance (with clear skies) in the next day or two -- would you pull up a Sentinel satellite shot to see if the Amungee H2 is even flaring as yet?? Riddle said that the frack fluid was clearing out of the well bore, so realistically there should be at least a little gas that has to be flared off at this point -- correct?? Thanks in advance, newt
Here is this year's update on the Carbon pricing for Canada and how Canada is handling Scope 3 emissions by increasing the cost of those Carbon offsets on both gas at the pumps and Carbon specific taxes for home and industrial natural gas users. The producers (called heavy emitters here) of natural gas in Canada will see a small increase in their Scope 1 and Scope 2 emissions -- which in Canada are called "output-based pricing systems".
Canada's national carbon price saw its largest hike yet today when it jumped from $50 per tonne of emissions to $65. But the rebates for many of the lesser income households receive to compensate them for the surcharge are also set to rise.
Usually, the national price increases annually by $10. This year, under the federal government's strengthened climate plan, it's rising by $15.
Because carbon pricing differs from province to province and territory to territory, not everyone will feel the impact of this increase the same way.
In places where the federal carbon pricing system applies, Canadians will see an increase to the fuel charge — what's known as the carbon tax — while heavy emitters will see increases through their output-based pricing systems.
This month's increase will add an extra three cents per litre at the pump for Canadians who live in Ontario and all of the Prairie provinces, says the Canadian Taxpayers Federation.
Longknife -- there has to be either additional measures -- like what the Inpex Chairman referenced in his speech to the Aussie Parliament -- which is the Aussie gov't getting on board with either end users paying for Scope 3 legislation (like we have here in Canada and elsewhere), and/or Gov't financial support (which they promised and then backtracked on) for a Carbon Capture plant that was proposed for the Darwin Port.
Inpex, Total, and Santos were proposing to build a Carbon Capture and sequestration plant for the Darwin port area, and were asking for Federal subsidies similar to what is happening in the US under Biden's new Infrastructure Bill -- where the oil and gas companies are getting around $85 per tonne for CO2 that is sequestered deep underground. The problem for us with the CCS type of solution is the time frame is at least a few years out before that kind of plant could be operational. I am really hoping for some brains to be found in Canberra where they do like the rest of the world and put the Scope 3 emission reductions onto the end user (where they belong as that encourages end users to modify or switch to renewables). This would allow Tamboran to do what they have always been preparing for -- which is to cover the Scope 1 and Scope 2 emissions -- as that is all they should ever be responsible for.
I have all fingers and toes crossed right now for a minimum flow rate of 5 mm or even greater from the Amungee H2. Ideally -- if we see a minimum 5 mm of commercial flow rates from the Amungee H2 -- that should significantly help the NT Labour Party and the NT Resources Minister to accelerate their current lobbying on their counterpart Federal Labour Party in Canberra to wake up and change the legislation to something intelligent. The NT Labour Party knows clearly that the if the existing legislation isn't modified or the CCS proposed plant in Darwin is not subsidized like in the US -- the Beetaloo gas is stranded. The NT gov't is totally against this current legislation as it stands -- as they know that for the small 1/4 million population in the NT -- the Beetaloo is critically important for jobs and royalties if these upcoming flows are commercial.
Falconman -- I sincerely hope you are right that this new legislation is a tempest in a tea cup!!!
When reading through the head of Inpex's speech to the Canberra parliament -- he is very clear that those jackasses have to make some changes or further investment in producing gas for LNG or even domestic consumption is at risk.
Ueda-san's speech even kills the idea of just sending Beetaloo gas to Darwin for LNG -- as all new gas fields tied to existing LNG facilities will have to be NET ZERO on day one. Net zero means Scope 1 , Scope 2 and Scope 3 emissions have to be offset before one molecule of Beetaloo gas gets shipped. Scope 3 in this situation means that the carbon emitted when an end user in Japan turns on a gas stove will have to offset in Australia before it can be sold offshore!!
Here are just two clips for his speech -- that hopefully the Canberra jackasses start to grasp on just how easy it is for political hacks to fuxx up a good thing -- by cutting off their noses just to spite their face -- sheesh!!!
Ueda-san's comments: "I note the Safeguard Mechanism reforms will require all new gas fields tied to existing LNG facilities to be net zero on day one".
"Minister King also said the Australian Government welcomes foreign
investment in the resources and energy sectors, especially from LNG
customers".
"These statements give us hope that Australia will remain an attractive
investment destination".
"It is now time to find the political courage to convert these words into
deeds"
This last statement by Inpex's head is the most critical part of his speech.
Longknife -- while this current legislation is a screw up -- it is highly doubtful that the Scope 3 emission question won't get cleared up with some sort of amendments. There will be pressure on the governing Federal Labour Party from all sides of the gas producing industry that represents 10's of 1000's of high paying jobs and huge royalty revenues. There will also be pressure on the Feds from industrial gas users, international LNG buyers, home users on the East Coast (that currently pay exorbitant prices for nat gas that will go much higher without changes to the legislation), and from the NT government that has already said clearly -- that if the East Coast wants Beetaloo gas in future -- this Scope 3 has to be resolved by Federal initiatives.
dprussky -- I just checked the forecast for Daly Waters and it shows clear sky's for the next three days. If you get a chance on Sunday -- would you pull up a Sentinel shot for us to see if flaring is underway?? Riddle said in one of his clips yesterday that the fracking fluid is currently being cleaned up in the Amungee H2 -- so there has to be some gas coming through with that fluid that needs to be flared off. Really hoping that the gas is significant enough that flaring is needed by Sunday?? Thanks in advance.
Longknife -- the Pepper report called for all emissions to be offset including Scope 1, Scope 2 and Scope 3 emissions -- with the Scope 3 emissions being the highest as that is when the end user burns the Beetaloo gas generating the highest emission totals.
Dr. Pepper, who was wise enough to realize that no gas would ever make it to market in the producers had to offset the Scope 3 emissions, called for the Aussie Federal Gov't to initiate new regulations (somewhat like we have in Canada with our Carbon taxes levied against each gas user at the Scope 3 level) that would either penalize the end user or give them incentives to find eco friendly alternatives to burning gas. There were a number of other suggestions in this area by Dr. Pepper, but she was pretty clear that the Scope 3 issue must be handled at the Federal Level.
(The Pepper Inquiry recommendation specifies that one way to fulfill Recommendation 9.8 is for the Federal Government to "strengthen existing policies and/or the introduction of new policies and initiatives).
Our current problem is the Green Party is crowing and cheering about the new legislation that was just passed on Monday that the Green Party leader says would require the producers to offset all Scope 1. 2, and 3 emissions -- which is both a deal killer and not even close to what Dr. Pepper was requiring under her Recommendation 9.8 at all. This is where the idiots in the Labour gov't in Canberra need to come out with clear and concise directions on how Scope 3 emissions will be handled by the end user and not by the producers.
This may be some indication of why the Fed's in Canberra need to clarify the Scope 3 crap??
https://www.google.com/search?q=tamboran+resources+share+price&rlz=1C1CHZN_enCA931CA931&oq=&aqs=chrome.0.35i39i362l5j69i59i450l2j0i66i143i362.1212528864j0j15&sourceid=chrome&ie=UTF-8