Member Info for ZippyFrood

KO, perhaps you could hook up your friend with Ron's mates down Camden council building department about how to waste money on eco homes and still rely on fossil fuels?

I'd have though if you were building ground up you'd go for 300mm wall and base floor insulation, 500mm in the roof, air ducting & heat exchanger and triple/quad glazing etc and be a passiv haus standard?

I think the road to reduced home energy usage is thorough improving the housing stock, but it is a very very long road requiring either homeowners willing to do it all themselves with moderately deep pockets (me and the wife) home owners with very deep pockets and good contractors or the state somehow coming up with half a trillion?

Maybe the 60p party will be the celebration in line with the UK Housing stock being net zero?

Https://www.bbc.co.uk/news/uk-scotland-tayside-central-67497023

Ouch! Goodbye Scottish produced fuels in 2025. Mental that we'll have to "import" fuel, especially when you consider the effects this would have if independence ever comes to pass.

Also hearing that Ineos are planning on winding up the FPS, a key transmission system for the CNS and offtake route for GKA. Fluids transported I think have halved in recent years so the FPS must be bordering uneconomic these days. That would be a massive "turd in the pool" for CNS production. Would either have to take on FPS from Ineos or go back to tanker offloading.

Given Ratcliffe's prior form at strong negotiating with Grangemouth, I wonder if this is the stand all UKCS bosses hoped someone else would take to call the gov's bluff?

it's a great point ron and i think it's now imprinted at an early age.

our older one was at school a few years ago. he is quite the entrepreneur and took to buying sweets in bulk and then selling £1 bags during breaks and lunchtime.

we helped him setup a spreadsheet to track everything and he was earning a very tidy profit.

he had custom from about 60% of the school, so was making upwards of £250 profit a week.

being a teenage boy he told a few people about this, which obviously was spread with lashings of hyperbole added.

three kids, just three, complained that "he was ripping off everyone and making a disgusting profit". he pointed out to the deputy head that he was actually charging less than the corner shop nearby and it was a service used by a huge proportion of the school.

needless to say the senior staff took the view of the three (annoying and opinionated little ****es) and he was closed down, despite protest from tens of kids that they would have to pay more.

great lesson for 12-18 year olds to learn - three complainers can **** it up for 300+ other kids.

the biggest irony? the three weren't even customers of his.

For me reduction of debt has to remain the priority.

As long as we're debt free, we're not beholden to anyone (Labour EPL potential aside).

Some of the current debt is pretty unfavourable, Stevo mentioned it recently, I want to say 11/12%?

Who knows what next year May hold. At least if we're debt free we can weather economic shocks with greater resilience.

Fortune may favour the brave, but there's no guarantee another flock of black swans aren't inbound.

you'd think so!

if you're in aberdeen and shire, buchan coast, cromarty firth, orkney and shetland, there is high support. also black trades and the like from glasgow and some parts of fife. but that's maybe 10% of the population.

but the rest of scotland is so isolated from it all, especially urban glasgow and edinburgh you'd struggle to find much support.

people don't care that it supports 200,000 jobs and supports a huge dollop of income tax, vat, corporation tax, ring fenced surcharge and epl.

scot gov has gone from "freedom on scotlands oil" to "no new oil and **** it down".

why?

the comical, repugnant, hideous support of the green fascists to prop up their failing regime, that's why. who are anything but green and are only really interested in other people's kids, shutting down free speech and what's going on abroad. they are an abhorrent mess and most of scotland is probably looking forward to them being ejected from government when (hopefully) labour romps to victory. this is the best option for scottish politics just now, short of shutting down hollyrood

have you ever seen a politician explain the "just transition"? no, because it is fiscally impossible, that's why.

i'd love to see the numbers on replacing scottish sector oil and gas income tax/vat/ct/rf/epl with the tax take from renewables. let's see the cold hard figures. these do not and cannot exist because 1 + 1 does not equal 2 in this context.

the main body of scottish politicians and voters don't know and don't care. they'll just blame the tories (in some cases justified) and shamble on through. meanwhile the country goes backwards and fails.

apart from that, everything is fine!

Don't look at it that way KO, you'd be missing out on;

1) the rollercoaster ride of emotions that is being a LTH

2) Ron's continued battle against Enfield council and others

3) the incredibly detailed analysis that Stevo, Tarmak and other provide

4) all the other informative and detailed posts that OneDB, AIMOilKing, mansardman, frac, oxygen, dumbly, Sekforde, Pelle, Auson, BTF, Apindok, MrsC (apologies for anyone I've missed) and others provide

5) being thankful you're not in the intellectually/mentally challenged mong group like Ammu, Neil Hannon, Lse2000 etc.

6) possibility of the 60p party....!!

AIMOilKing,

Very good point on "ahead of a financially realistic plan for net zero and workable renewable source and associated infrastructure is in place"?

I would love to see any detail from any party on this.

It really does seem to just be "build it and they will come".

No detail, no numbers, no clue, no hope.

This is exactly the sort of clueless shambles that leads strife/riots/civil unrest/wars.

The assault on living standards will be terrible. I just don't think Joe Public appreciates this.

Apart from a very fortunate and wealthy small % of the population who maybe have an A EPC house, electric cars, ASHP/GSHP, their own turbine etc, the current net zero trajectory is a disaster for the public.

There may be a MASSIVE u-turn, but given the Petajoules of hot air emitted on the subject, it's unlikely.

I actually considered an electric car this year. The recent announcement from Toyota on solid state battery developments has put me off until they arrive. Of range could be double or weight reduced by several hundred kilos, then why but now? Affordable electric cars remain an issue, as does the cost of insuring.

Our diesel estate can do over 600 miles on a tank, is plenty fast and re fill in three minutes. I also work on it myself so it's pretty cheap to keep moving and it's ~5 years old.

We also had a second word burner installed recently and continue to renovate our home to hopefully EPC B levels, so net zero may not be that big a problem, in that regard we are very fortunate.

But for tens of millions in the UK alone, net zero may be the biggest policy failure since the GFC, if not 70s Britain?

Good points.

I saw a video of RedEd recently talking about UK's carbon free energy by 2030. Maybe it was from a link on here?

He and anyone who thinks the same is totally deluded, I have no idea how they can possibly state this. It's on levels of delusion of £350m/week for the NHS....

It does feel like we're going in to full rundown mode. I wonder if that's the plan so it can be nationalised? Or Sir Jim can appear and sort it all out?

Worrying times....and I'm starting to sound like KO!!

I wonder what or who is driving the NSTA now?

Gone are the days of MER....

This date of electrification is of huge concern.

Tie-backs have generally been a route for extending the life of older assets. Heather/Thistle/Dons/GKA being good examples of this.

But, these assets generally just tick over and aren't generally suitable (CAPEX-wise ) for electrification, it's just doesn't make financial sense. They could be upgraded, but I suspect the transportation tariff on a third party tie back would be unpalatable and kill the tie-back.

As a lot of future UKCS production "growth" would likely be tie-backs, I wonder what the net effect of this will be?

Doesn't sound particularly rosey. :-(

I wonder what

Don't be too down.

We've had a couple of time where the 60p party looked close, scuppered by the great COVID deception and the the great EPL farce.

A good barometer of stocks is the types of comments they attract.

We have lost all the cretins such as Neil Shannon, LSE2000, AMU and all the other brainvacuums that used to (dis)grace this board with their presence.

On a behavioural investing basis, surely that is at least a hold, if not a buy signal?

Cheers

Easily the most annoying things on the road now are the super hatches with the farty-pop-pop-bang-fart exhausts.

Generally driven by annoying youngsters, tearing around your local high street at 80mph whilst local plod are busy hassling some middle aged woman for a twitter crime.

I think I'll start selling home made stinger systems.

Romaron,

Rumours around town are that RH has a non-UK citizen better half. Perhaps she struggled with a UK visa? I'd expect not given our general generous policy to welcoming visitors long term but who knows?

But to summaries the RH/AB history;

(RH a founder of UWG and ultimately on the Acteon board after they acquired UWG. Don't think AB was involved there)

RH and AB Worked together at Petrofac, with RH founding Petrofac Malaysia

RH went on to form Nio Petroleum in Malaysia which ENQ acquired in late 2012.

RH then joined ENQ as international GM before becoming the Head of Capital projects, effectively Kraken PD. This was a great appointment after the Alma debacle.

Richard then bounced around and we had Neil McCulloch, Bob Davenport and other looking after the UKCS.

I did think that a COO plus and MD/GM for each basin was excessive. Maybe AB saw another cost saving opportunity? RH being the serial entrepreneur probably saw an opportunity elsewhere and they had a chat and that's what has happened.

Remember ENQ offshored some functions to Dubai, which I never saw the value in, so they (read AB) loves a minor cost saving.

Hopefully you've not heard anything that could be interpreted as nefarious beyond that?

Hopefully onwards and upwards!

On the back of that, I saw a post I think last weeekend, which questioned AB's ethical virtue in rather abrupt terms.

The post disappeared but it did make me think.

Why have any institutional investors not called for his head on the back of such dismal performance?

I personally hope that it's a sale and not a merger.

I initially bought mid 2015 but added during covid with the net result of too much of my portfolio is in EQ.

Would be nice to see a "return" after that time, not rolled up in to another entity generally unloved by the market, legislators and the public at large.

Unless the acquiring/merging company was paying out a fat dividend. That would be good.

Holy crapola, I would love to see a breakdown of those figures.

I had an argument recently with a rather unhinged colleague of a mate. I estimated that to upgrade the UK housing stock to too insulation and heat pumps the bill would be in excess of £500B.

I was called an idiot, a climate denier and an oil apologist. So much irony in all of those names.

But, said demented idiot insisted that heat pumps were £5k each and sheets of polystyrene for exterior insulation were not that expensive so no way it was more than £10k a house and anyone "rich" ie earning more than fifty grand should be subsidising the poor.

Would love to see the breakdown of the £127.7k!!! What type/age/size of properties were these??

We're currently renovating our farm house and as the wife (who is very skilful) and I are doing everything but gas and plaster, it's costing about ~£1.5k per room. Stripping all walls, reframing, DPC, re wiring, re plumbing, insulating, secondary layer of thin PIR to avoid thermal bridging, floor/ceiling insulation and any relevant air flow work, plaster boarding and plastering.

Our labour is obviously free, but I would love to see the material costs involved in those figures.

Example, by shopping around, we found 100mm celotex GA4100 for £42inc vat last year. Most other places it was £60-£100. Wonder if they have to buy from preferred suppliers for specially curated prices?

We also just had a number of windows replaced by a local specialist, with U values under 0.9 and they were not excessively expensive.

The mind boggles on how almost £128k could be spent on a retrofit?!!

It's a good point Tigar, you'd have to expect Amjad and Salman to be looking at every possibility of how to reduce the tax burden and make the company more attractive to investors.

If that means listing elsewhere and some clever way to pay less tax then go for it. UK gov is such a shambles then they can get f'ked.

Amjad must be wondering what his decade of £400k of donations has got him??!

Https://www.bbc.co.uk/news/uk-scotland-66013963

Interesting article and reasonably knowledgeable for a change.

The 4th and 3rd last paragraphs are unusually enlightening;

"Asked how energy bills are supposed to be falling by 2030, as it claims they will, Labour's answer is that renewable energy is already cheaper than gas-fired power stations.

But that's for turbines already installed, and the comparison is with gas at recent high prices. For decades to come, bills are going to be paying off the capital costs of many more turbines required, and the wiring to get offshore wind power to customers - itself a logistical and political challenge. Supply chains are stretched, and the industry warns that costs are rising".

Unusually prudent journalistic language and hopefully a sign of changing attitudes.

Unfortunate it was effectively a footnote in a BBC news -> Scotland article.

Every little helps!

(For once) maybe the unions can be a source of good on this situation?

Labour relies heavily on them for funding and the GMB and others have been very critical of any fiscal regime that reduces jobs in this area.

In this case are investors and unions aligned in a "the enemy of my enemy is my friend" situation?

Hopefully the Unions can exert some strong influence here and protect jobs of their members and others and secure the correct view from Labour to make it all happen.

looks like a temporary ****ting of the bed based on the downgrade actions of fitch.

with a 17m barrel draw, oil should be up up up!