Cyclone Posted July 29, 2013 Share Posted July 29, 2013 Didn't I say "unless you are contributing a significant % of the world supply" You think that Russia though is going to charge the UK punative gas prices if we decide not to develop fracking here. You're entitled to an opinion, but this one is off in conspiracy land I'm afraid. Link to comment Share on other sites More sharing options...
taxman Posted July 30, 2013 Share Posted July 30, 2013 A Tory peer has said that fracking should go ahead but not in beautiful, natural areas. ""Fracking should be carried out in the North East of England, where there are large, "desolate" areas, a former energy secretary has said." He has, I believe, since apologised. Link to comment Share on other sites More sharing options...
anywebsite Posted July 30, 2013 Share Posted July 30, 2013 (edited) Given how the global gas market works, I don't think it would be possible for a single producer to sell at a premium to account for risk. And it certainly isn't possible to make anyone buy from a single producer at any price. The risk involved will be weighed against the potential profit, that profit being determined by the spot price of gas. You don't get to choose what rate you sell it for, your only option as a producer is to sell more or less at any given time (which itself affects the price, but not massively unless you are contributing a significant % of the world supply). There isn't really a global gas market, there are separate markets for Europe & the US. It's expensive to ship gas, most of it is piped. Everything else is true though. A big increase in supply will create a downward pressure on prices, but many other things affect the gas price too, like demand levels, supply from other sources & government regulations. If the estimates are true & it goes ahead full speed then it will have an impact on European gas prices, it should be a significant percentage of supply. Weren't they saying the entire UK's gas consumption for 10 years? Prices will be higher without fracking than with it, that doesn't mean prices will fall straight away, quickly, or even at all. They might just rise less quickly than they otherwise would. Edited July 30, 2013 by anywebsite Link to comment Share on other sites More sharing options...
Funky_Gibbon Posted July 30, 2013 Share Posted July 30, 2013 A Tory peer has said that fracking should go ahead but not in beautiful, natural areas. ""Fracking should be carried out in the North East of England, where there are large, "desolate" areas, a former energy secretary has said." He has, I believe, since apologised. Meanwhile on Twitter many many people are posting their pictures of the North-East's outstanding natural... erm... desolation. All that nature and wildlife... you'd think it was a Mad Max film. And they wonder why they can't get any MPs elected up there. Link to comment Share on other sites More sharing options...
I1L2T3 Posted July 30, 2013 Share Posted July 30, 2013 A Tory peer has said that fracking should go ahead but not in beautiful, natural areas. ""Fracking should be carried out in the North East of England, where there are large, "desolate" areas, a former energy secretary has said." He has, I believe, since apologised. Not just any old peer. He's George Osborne's father in law. Link to comment Share on other sites More sharing options...
taxman Posted July 30, 2013 Share Posted July 30, 2013 Not just any old peer. He's George Osborne's father in law. Of course, that one who has all the private interests in energy companies, how could I have been so blind? Link to comment Share on other sites More sharing options...
I1L2T3 Posted July 30, 2013 Share Posted July 30, 2013 Of course, that one who has all the private interests in energy companies, how could I have been so blind? I think the comments could turn out to be quite revealing. IMO the plan is to frack the life out of the north. Like the Scots we'll be bled dry of resources. Link to comment Share on other sites More sharing options...
megalithic Posted July 31, 2013 Author Share Posted July 31, 2013 I'm quite surprised by the "nimbyism" of the rich on this, who'd have thought they'd be out to protect their own interests whilst they turn our back yards into a wasteland. Link to comment Share on other sites More sharing options...
I1L2T3 Posted July 31, 2013 Share Posted July 31, 2013 I'm quite surprised by the "nimbyism" of the rich on this, who'd have thought they'd be out to protect their own interests whilst they turn our back yards into a wasteland. This is the thing. People who oppose wind farms are quick happy to suggest environmental damage to other areas as an alternative. I wonder if the north of England would be better off with the Scots. Between us we've got the oil, offshore gas, loads of potential wind farm locations and adequate water. Link to comment Share on other sites More sharing options...
alchresearch Posted July 31, 2013 Share Posted July 31, 2013 BBC Breakfast covered the Sussex site this morning. It was interesting to see the local council said 85% of people were against fracking. But only 35% of people responded to their survey. Link to comment Share on other sites More sharing options...
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