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Energy crisis and the economy

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Do you see a Govt oil drilling department?

 

No but I see somebody elses, exploiting a resource that belongs to us all.

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Ever thought you were being had,

 

 

As Britain's Chancellor of the Exchequer, Osborne currently suffers the misfortune of having to guide a struggling economy with an escalating deficit and debts estimated at £4.8 trillion through the worst global economic crisis since the Great Depression.

 

 

How will he do it?

 

 

Until recently the challenge seemed impossible. But then last week, gas exploration company Cuadrilla Resources handed him the solution on a plate, with the shock announcement that it had found four times more shale gas than expected in England's Bowland Shale; perhaps 200 trillion cubic feet (Tcf) of the stuff based on information from two wells. If just a fraction of the reserves prove recoverable it not only turns the UK gas market on its head it would overshadow Poland’s massive reserves (around 187 Tcf) and Norway’s Troll gasfield (33 Tcf). And, according to Cuadrilla’s American CEO Mark Miller, there’s “as much gas per square mile in Bowland as the successful North American shale plays”.

 

http://www.energytribune.com/articles.cfm/8733/UK-Shale-Gas-Could-Shake-Government-Coalition

 

Let’s hope the government decide to leave it where it is.

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Let’s hope the government decide to leave it where it is.

 

Then get ready for cabbage picking,

 

 

Shale gas boosts US manufacturing

http://www.ft.com/cms/s/0/dbfeaa42-e2d2-11e0-93d9-00144feabdc0.html#axzz1bDgyoyQ1

 

In Poland, however, the exploitation of shale gas is well on the way to becoming something of a national mission. Poland's Prime Minister, Donald Tusk (below), has described shale gas as his country's "great chance" to turn Poland from an energy importer to a major exporter within a generation. And the subtext for Warsaw is that shale gas could not only make Poland into an exporter, but also end its age-old energy dependence on Russia.

http://www.independent.co.uk/news/business/analysis-and-features/polands-shale-gas-dilemma-for-europe-2361570.html

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remember the other week when Cameron said 'we are staring down a barrel'? Well that barrel wasn't a 'gun', he was refering to an 'oil barrel' and one that is getting too empty for comfort. You can have your 'gas' and 'nuclear' energy as high as you like but the real dictator in the energy wars/crisis is 'oil', period.

Edited by Cliff Clavin

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Where is sustained investment in renewable energy going to come from? Not the current banking system. RBS, Lloyds, HBOS and the City basket in which we've placed all our eggs are too caught up in their quick win, casino mentality.

 

Isn't it funny (in an entirely predictable sort of way) that the banks which DO invest in green and renewable energy are those banks which have multiple bottom lines and broad stakeholdership? They still invest in the marketplace to seek profit, but they have the foresight to see that profit will be ZERO if they don't invest in sustainable enterprise.

 

If the government wants to do something about the energy crisis, perhaps it should encourage green banking - tax breaks, better protection laws, consumer education. We don't need nationalised, state owned banks, we just need to support the institutions that already exist in the marketplace that think beyond a single bottom line.

 

Don't worry, you won't miss your "great rates" when you see the old economy crumble upon the weak foundations it was built.

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No but I see somebody elses, exploiting a resource that belongs to us all.

 

So you'd rather not use it at all just so you can feel happy about having a resorce for all that you cannot access?

 

You are aware that to exploit mineral resources - which the Govt for decades have considered to be national resources can only be done after paying a hefty wodge to the Govt for an exploration licence?

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Does more people now understand the effects of peak oil and peak energy and its implications on the economy etc.?

 

I ask as no one was really interested about 5 years ago when I first started to post about the subject. But watching the news channel all afternoon you can see there's real panic now concerning the economy and they're trying to get energy companies to lower their prices but they can't because of the demand.

 

They also said the problem we've got is that if the economy improves it will put strain on oil demand and higher the price again causing yet another recession as quickly as getting out of one. All this is evidence of the peak oil theory.

 

At this rate my prediction of total collapse by the end of 2012 is looking good, although I really do hope I'm wrong.

 

Scared yet? Well your probably not but you when you finally wake up and smell the coffee that's brewing here.i

 

Oh dear, another crackpot conspiracy theorist is back with his pet theory!

 

http://www.sheffieldforum.co.uk/showthread.php?t=527291

 

No-one believed you last time when you said it would happen on the next 30-50 years, no one believes you now you're saying it'll happen next year!

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Oh dear, another crackpot conspiracy theorist is back with his pet theory!

 

Why is peak oil a "conspiracy theory"?

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Peak Oil isn't about running out of oil, that will never happen. But one day it will cost more energy to get it out than what they get from it. The prices of oil are so volatile nowadays because of a few reasons being, demand from emerging countries, violence in oil producing areas and collapse of major oil fields due to depletion.

 

An oil filed can become redunant even wth half it's oil left becuase it becomes too difficult to recover.

 

Tar Sands in Alaska for instance are no good because they have such a low energy returned on energy invested. The sweet crude stuff isn't so easy to get now and that's the erason we'll never see the economy fully recover.

 

We are at what I'd describe 'at the end of an age'.

 

I don't think that is quite what the peak oil theory is. The peak oil theory is that demand for oil has always been increasing and will continue to increase. At present oil production is also increasing.

 

Crunch time is when the rate of oil production hits a peak and no longer matches the rate of oil consumption.

 

By the supply and demand theory this will send the world into turmoil (NPI). This will probably happen before the scenario you describe above.

 

See here:

http://en.wikipedia.org/wiki/Peak_oil

Edited by TimmyR

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Oh dear, another crackpot conspiracy theorist is back with his pet theory!

 

http://www.sheffieldforum.co.uk/showthread.php?t=527291

 

No-one believed you last time when you said it would happen on the next 30-50 years, no one believes you now you're saying it'll happen next year!

 

Sorry but that must be a different 'crackpot'. I did used to post about this subject and always claimed that Peak Oil would occur about 2008 followed by an economic collapse (happening as we speak), then total collapse of civilization as we know it in about 2012, I maybe wrong (I hope I am) it maybe a year so later if we're lucky but it's going to happen.

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