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Someone also failed to mention what Sir Pascal Soriot said. He hoped the new government “will take a new look at the way medicines are being assessed”. He warned that “developing medicines in a country doesn’t really make a lot of sense or is not very attractive if you know patients will not benefit. And that’s really the aspect of the environment that needs to change in the UK.” He joins others that have equally raised these concerns, almost as if there is a deliberate attempt to protect existing markets !

Aim. I was recently invited to a social gathering and met someone who knew more than most , a recently retired Schlumburger Exec. who had worked throughout the world mainly on Oil projects. I asked what he thought of Labours plans. Once he’d stopped laughing he said they were difficult to comprehend but not surprising when those driving the agenda clearly hold an insular view of the world. He also felt the UK’s decarbonising timescale plans looked totally unrealistic but would be fully supported by Industry as it’s a huge driver of revenue irrespective of any final outcomes, which of course would not be their responsibility !. On leaving I noted not a single car on the drive was an EV.

Our only hope is that as Ed. becomes more extreme in his personal quest to turn the UK net zero, his support will wain. Currently he’s using his political clout to push thro. unpopular plans,

the costs of which have yet to hit home albeit the EV Market looks like being the first. I see the latest being Porsche, who now accept its not the demand market they thought it would be !

I wager Heat Pumps, Wind Turbines, Solar power & Battery Storage demand equally won’t be quite what Ed. is planning for !

Forgive me it’s Friday !. Labour could simply follow the example of human body organs and ensure the more important aspects of a functioning society, have backup. Trouble is two important organs are singular and like Milliband’s strategy could lead to early problems, the Heart if it stop ‘pumping’ and the anus if he doesn’t stop talking thro it!

CrowdStrike seems a very apt name ! .

Ps. My guess is the Microsoft 365 App. forgot it’s a Leap Year and closed down prematurely realising it was running out of days.

Well let’s hope the UK economy survives recession, but looking a some large Director sales recently, latest being 2 Senior Mgmt at Tesco’s offloading significant volume, it wouldn’t surprise if more follow, not knowing where the axe will fall next, with some general Mkt weakness leading up to the Chancellors speech. At least we’ve already had our hair cut numerous times now , to the point of baldness so there’s not much else we can handover !

Hope Milliband watched Trumps speech yesterday as biggest cheer of the night followed his announcement that “ we’re going to lower energy bills by using Oil and Drill Baby Drill “. Whilst a controversial figure he’s a businessman, something lacking within Labour !

Aim. Can’t imagine any ink being used before the Chancellor has revealed just what damage she intends to inflict across the board, in raising the significant revenue Labour need. Q; will we also miss a bullet ?

Are tax losses sacrosanct when it comes to the EPL ! .Labour are desperate to squeeze every £ possible out of the Industry and unless legal restrictions apply nothing yet can surely be ruled out.

Pete, you say “ Some big buys of 30,000 and 100,000 and 50,000 going through in the last 2-3 hours”, with respect these are not significant transactions, likely just retail trades so hope you’re not reading anything into them.

Other than proceeding with GB Energy, little else of significant consequence mentioned, almost as if Ed.s wings have been clipped.

Now this is refreshing, but words we’d never hear from Milliband ;

Recent comment from the Head of Australia’s Energy Market Operator -

“To be clear, AEMO does not form the view that one form of energy is ‘good’ and another ‘bad’. Our engineers and economists are focused on finding the least-cost path to reliable and affordable energy for Australian consumers “ .

Rather than following the ‘least cost path’ , the UK seem to have adopted the opposite !

Watching clips of the Republican NC last night, as each State delegate announced their votes for Trump , it was interesting to hear how many used the opportunity to mention their pride that their own State was involved in and fully supportive of the Oil & Gas industry, that was powering the US economy. Strange no one mentioned anything about Net Zero !

This is the difference. China’s State owned Oil & Gas Co. ( CNOOC) celebrates finding a large new Offshore field in the Bohai Sea, not a million miles from Beiing whilst Miliband is rejoicing thinking the North Sea can be closed within the decade. Now I wonder why China has by far the strongest industrial growth this Century !

Suspect todays action just follows the mood set by Destiny Pharma, another bio tech mid clinical trials, that’s failed to find a Licence partner and’s rapidly running out of cash .It’s almost as if biotech in the UK is a dirty word, little wonder most seek other shores !

When Labour have absolute voting power, no amount of hand wringing from AB & Industry will change what they wish to force thru Parliament. They may be more influenced by the Unions but Ed.M will also know he’s likely only got 5 years to achieve his Net Zero ambitions, so there be plenty more feathers flying around. The Industry will survive by increased M&A activity, after all we’re still needed, but as a sector it’s unlikely to attract much external investor interest . For SH’s I think ‘shafted’ is the appropriate word !

Well Ed. Stupid is certainly out to make enemies, witness the latest 3 huge Solar Panel farms he’s waived thro. that will cover 2,837 hectares of farm land. Proudly proclaiming “ Some of these cases had been held up for months before I arrived in the department. They were put on my desk on Monday and I've made a decision in three days “.

Well Ed. they were held in abeyance for good reason, much of which being about environmental concerns but clearly you’re not into detail nor have time for reading thro the numerous planning doc.’s.

Someone will need to hold him back quite soon.

Dumbly. At least one positive is Labour won’t get another term at this rate. And yes do agree existing ,& likely those in late stage process, Licences appear reasonably safeguarded but happy for the media to continue their outrage !

I can see the Legal profession rubbing their hands already !

Indeed surprised Ed. hasn’t yet flagged up that Supreme Court decision last month that found previous planning consent for oil extraction was flawed as it didn’t consider the end-use carbon combustion emissions of produced hydrocarbons. !! Thus retrospectively requiring that assessment must be included in the Environmental Impact Assessment , and assessed as part of the planning consent.

Not sure just how far back these idiots propose to go, or what else they have up their sleeves but suspect his team are already going thru Licence Conditions !

ps. AB must now be dreaming of retirement, i would be ( oh i am ! )

Only slight disadvantage being Crown Defence costs ( & any awards) get paid ultimately by the taxpayer, the Plaintiffs costs by themselves, so it’s in the interest of the judiciary to see work coming in, whoever generates it !