Member Info for romaron

Would you make the trade? Knowing what we know about the cost of renewables and their limitations you'd have to be brave or foolhardy but isn't that exactly what our government and the previous one has made? The market has followed and as holders of an O&G company we know that is the case.

They bang on about AI and the data companies are already making their own arrangements for reliable dispatchable electricity. Renewables have major flaws and that is before we test the economics. Nuclear is a solution but that has huge capex costs and time restraints on availability any time soon.

Watch this video from 24:16 https://www.youtube.com/watch?v=fOtIjtRGkzo&t=5s dismiss it as a ramp if you like but I don't. I particularly like the point that outside of OPEC there is almost no growth of gas which hands back pricing power to OPEC. The assumption is that demand will drop to compensate. Amazing to think when governments around the world are pushing the growth narrative.

When you stop to think about it we are the opposite side to the trade. Our time is coming!

Whetstone Ward by-election in London Borough of Barnet

2022 Council Election 2 seats

Labour 1898

Labour 1625

Conservative 1336

Conservative 1308

Green 456

Total 6623

2024 By Election for 1 seat (yesterday)

Labour 965

Conservative 818

Reform 592

Green 208

Lib Dem 176

Rejoin EU 65

TU 47

Independent 13

Total 2844

If 2022 had been for a single candidate with an assumption of party allegiance then the result would have looked like this

Labour 3523

Conservative 2644

Green 456

Reform came 3rd yesterday. The Lib Dems joined in so you could say the Green vote did quite well. Not sure what to make of it other than 20 per cent or 1 in 5 people voted chose Reform. Whetstone is typical North London I'd say. It has no areas of deprivation.

AI says: "Reform UK's stance on net zero involves scrapping the 2050 target and related subsidies, while promoting fossil fuel extraction and alternative environmental measures like tree planting and increased recycling. They argue that net zero policies are damaging the economy, increasing energy bills, and harming industries." All actually true which is unusual for any political party.

I think we can safely accept that EPL could not exist within that policy.

KO - there is a Council by election today in Whetstone Ward of Barnet. We'll know the result tomorrow. I expect it will get a lot of attention if Reform win it.

Something you don't see very often. An under siege industry and a major defender finding time to answer a curious enquiry from a member of the public who lives only 40 minutes from Westminster. Which some might describe as the 'enemy camp'.

I emailed Russell Borthwick of the Aberdeen and Grampian Chamber of Commerce and he very helpfully gave me links which I am sure we will all find useful.

They do a regular daily bulletin which you can sign up for https://www.agcc.co.uk/news/morning-bulletin

plus some other background work and reports the latest being a letter to Keir Starmer https://www.agcc.co.uk/economic-development/political-engagement

Plus some other reading https://www.agcc.co.uk/economic-development/north-sea-transition-taskforce and

https://www.agcc.co.uk/economic-development/energy-transition

AND worth repeating for all those that missed it. This video which brings to life the human cost of the insane rush towards energy transition https://vimeo.com/1082831801

Yesterday in Westminster I heard Greenpeace show faux sympathy towards the 250 job losses at Harbour adding that they [Harbour] still managed to dish out £1 billion in dividends showing once again their ignorance of the real world.

Hi monkey - I was in Rockhopper for a while and probably sold at a loss. What happened since is basically that Argentina changed direction politically and fell in love with an asset that the UK and the woke world was abandoning. That is why I'm still in EnQuest because I think we're coming to the end of a political and economic cycle. You/we lost on the swing now let's see how the roundabout performs!

Almost 3 years ago https://parliamentlive.tv/event/index/09e28c6c-4afa-48e8-aae2-d73485784719

And the damage that has been done to this country by both Tories and Labour has let in Reform. Lie after lie from the old parties and the Green blob. How do they reclaim any credibility after this?

I was with Unite today. Miliband not mentioned. Starmer excoriated and compared to Enoch Powell. I enjoyed saying "I told you so". I also told Margaret Mullane (Labour) they'd lost this corner of Essex. First the local elections, next the MPs.

I did some financial planning and it looks like I can retire at 97 and live comfortably for 11 minutes.

London: 13 May 2025

For immediate release

Net Zero, not gas, causing bill increases

A new factsheet from Net Zero Watch shows claims that high electricity prices are due to the influence of gas prices on wholesale markets are almost entirely false.

Through detailed analysis of Ofgem price cap data and, uniquely, an estimate of the effect of carbon taxes on wholesale markets, it reveals that the gas price is now having only a marginal effect on household electricity bills compared to the situation ten years ago. Around three quarters of the increase in bills since 2015 can be attributed to Net Zero.

The most important factors in the £327 real-terms increase are:

Renewables subsidies (£83)

Carbon taxes (£39)

Grid balancing (£26)

Capacity Market (£26)

Grid strengthening (£23).

The direct cost – the element that can reasonably be attributed to the cost of gas – only accounts for £45 of the increase.

Video of the current situation I have come across and it is current. In fact Steve Gray is in Westminster tomorrow and he's fierce (I'll try and speak to him). Listen to his view at 35:43. If that doesn't terrify Labour then it is time to emigrate.

https://www.dailymotion.com/video/x9j8548

They had Kerry Smith from Harbour speaking and it was a hard watch. The insanity of DESNZ is impacting decent hard working people trapped by an administration totally out of touch with their base. It isn't about emissions and finance. Its about survival.

Finally, to all the Scottish investors and people. The English don't hate you. Just Westminster.

Https://www.msn.com/en-gb/money/other/offshore-wind-tech-firm-collapses-with-loss-of-jobs-in-bristol-and-scotland/ar-AA1EBdgl

Equinor was one of the investors.

3 Germans, an Italian and an Englishman walk into a bar.....

O/T oct23 fascinating. The House of Leaves was my daughter's idea. Himare was where my father was wounded and I wanted to follow his footsteps. You can see why armies want young men - carrying ammo and equipment in that heat and terrain would tax the fittest. I can say it now - my daughter was invited along to see British troops training Ukranian soldiers. What surprised her (and me) was when she asked one of the trainers what was the biggest difficulty training them it wasn't language (they have Ukranian women translators involved) but the problem they have is getting "prone". Attacking requires keeping as low a profile as possible and throwing yourself to the ground, crawling and making breaks repeatedly is exhausting. The Ukrainians training weren't all young fit men or necessarily of a martial bent. I think it makes their commitment and bravery even more admirable.

On another holiday c. 1980 I was shown this building. Many living in Trieste were unaware of its existence: https://en.wikipedia.org/wiki/Risiera_di_San_Sabba I don't think we have changed that much. Ed Miliband has no idea of what energy security really means.

You've lost me there oct23. Submarine tunnels? If you think I send you off tangent imagine where I end up?

I do however think it important to mention things that might get others thinking. I know I have helped others produce videos and stimulate ideas. Play them at their own game. Repeat slogans. 9X cheaper still gets the odd mention even though it was over 2 years ago. The Green Blob won't mention it but we can and will.

Interestingly I was just talking to another investor and the ESIM price was set at the peak 9X cheaper i.e. 31 Dec 2022. That $71.40 will be close to $80 at the end of this year. Labour can manipulate that because nobody understood it properly when it was set and they have always been slow learners. The public will be blissfully unaware. Firstly they need to split oil away from gas. We suffered impairments at the time and I'm no accountant but surely that would mean a reversal of them on this point? I fancy that Labour are already oiling up their spin machine to explain that the "success" of their renewable programme has given them the "opportunity" to end the windfall tax early and give a much needed boost to the O&G industry, placating GMBV, Unite and Rachel Reeves. If that is a step too far then splitting the ESIM would be a good start. Not a chance that Brenda from Bristol will understand the implications.

"Scottish Protest" M ?

I hope they put it in a stiff letter. I can remember meeting a WW1 veteran who told me a story at the last days of the war. The Germans were defeated and surrendering in droves. There was still some danger involved and as an encouragement you got a digestive biscuit for every German captured. Units were sent out from every regiment in his particular theatre. I'll always remember his chilling words - "the Jocks never got any biscuits".

He was my first wife's grandfather and in peacetime a blacksmith in the mines of South Shields, County Durham. He himself was in a 'pals brigade' and mentioned in despatches. They knew a thing or two about protest and payback. As did the Jocks.

Https://substack.com/home/post/p-162694331

... from the Vatican. RNS expected.

*perhaps we should ask them for advice on how to do things.

"Squareosa" is a highly technical term used for the output of a solar farm in winter. It was termed by Matt Ridley in this extremely watchable video https://www.youtube.com/watch?v=FZ8nANp7NDw

In layman's terms the rule/law squareosa is basically "the square root of sod all" and refers to the performance of wind farms in December (for example). Demand goes up 40% whilst supply drops by 95%. It is even recorded in that august scientific body IPSO. Shame it wasn't said in parliament and could be entered into Hansard.

Well worth watching. The piece I mention starts at 7:50

Interestingly I was at a talk recently where the interviewer, Andy Mayer, was in attendance (it was in the IEA building) and I shook hands with the "bionic peer" Craig Mackinlay.

"And Harbour Energy is preparing massive job losses in North Sea oil/gas."

Andrew Neil on "X" https://x.com/afneil/status/1920051983626514644

Helps explain the miserable day we're having.

Doesn't even merit an RNS. All self-inflicted by the failing Tories who handed the tainted baton to Labour.

Today’s news from Orsted means Miliband cannot rely upon projects getting built even if he awards contracts. And of course, this news comes after Norfolk Boreas was cancelled last year after being awarded a contract in AR4 in 2022. Moreover, parts of other AR4 projects were rebid at higher prices in AR6, such as Moray West and Inch Cape. Orsted’s Hornsea Project Three has even been awarded contracts for more capacity than is being built.

If we cannot rely upon either the capacity being delivered, nor the price being honoured then the whole Allocation Round process has become a farce. It is time for Miliband to declare that his CP2030 plan is dead. It is no more, it has ceased to be, it’s expired and gone to meet its maker.

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From an article by David Turver of Eigen Values today. Sounds to me that unless Miliband can magic some more money he has reached the end of the road. No wonder he's concentrating on solar now.