the frack thread

PS_RalphW · Post by **PS_RalphW** » 31 Jan 2014, 14:19

http://www.theguardian.com/environment/ ... mentpage=1

It will take five years and the drilling of 20 to 40 fracking wells to judge whether the UK has a viable shale gas industry

So says Lord Brown. Perhaps he should tell Cameron.

biffvernon · Post by **biffvernon** » 31 Jan 2014, 20:11

Last summer, when we protested against Egdon Resources' plans for oil exploration at Biscathorpe, I pointed out that their managing director Mark Abbott held shares in his own company valued at about three quarters of a million pounds. The shares were then at about 10p. I argued that the way to make money was to persuade potential investors that there were potential riches in the prospect for fracking the shale for gas. One didn't actually have to do any fracking or find any gas let alone produce any gas, so long as investors bid up the share price and you got out and did a runner at the right moment. Now that Total has said they will join in all sorts of financial institutions are saying that Egdon shares are a goo buy. This one, for example, is recommending buy at 32p. http://www.proactiveinvestors.co.uk/com ... 65352.html Egdon's shares shot up in response to the Total deal, trippling their price in a few days. If Mark Abbott still holds the same shares as he did a few months ago his worth increased by about £i.5million in January. Nice little earner, if he sells before the financial institutions realise the Ponzi-like aspects to the fracking industry and pull the plug. Meanwhile we have the some government ministers talking the share price up by promoting fracking. It was good to hear Prince Charles describing the "powerful groups of deniers" as "the headless chicken brigade".

cubes · Post by **cubes** » 02 Feb 2014, 11:27

It's not unusual for MDs to own shares in the companies they run though. You may be right but there's nothing unusual about him holding shares in the company he runs.

biffvernon · Post by **biffvernon** » 02 Feb 2014, 13:15

Oh there's nothing unusual about it.

I just think it's wrong.

cubes · Post by **cubes** » 02 Feb 2014, 14:48

I suspect you may be right, that his motivation is short-term gain rather than longer term strength for the company. Unfortunately he's not alone when it comes to that sort of outlook in UK business.

emordnilap · Post by **emordnilap** » 07 Feb 2014, 16:49

I saw this comment about extreme energy generally. It sums things up.

Instead of looking seriously how not to use gas and oil, hundreds of billions of dollars will be spent pursuing a short term gain. Pushing the ball down the road and hope there is not a cliff.

Murf · Post by **Murf** » 24 Feb 2014, 11:17

It seems like there have been some developments at the Barton Moss site over the past few weeks.

The lane that the protectors were escorting the trucks up along towards the well site has been ruled a public footpath. Meaning the police can't arrest people for obstructing the highway anymore. Unfortunately last week's episode of Fracking Nightmare: http://www.youtube.com/watch?v=yMhhWuQukkA (taken from http://frackingnightmare.com/news.php) suggests that they are now being even more heavy handed about this in response to the ruling.

The people protesting up there are doing important work. Let's hope this practice can be shut down.

emordnilap · Post by **emordnilap** » 24 Feb 2014, 11:36

Heh heh. The UK police is a 'corporate enforcement force'. Well, no shit sherlock. Military farces do not serve the public, ever, anywhere. Those days have gone, if they every existed, which I have my doubts about.

But fair play to frackingnightmare.com - we could have done with that lot in Rossport.

raspberry-blower · Post by **raspberry-blower** » 04 Mar 2014, 19:19

Hypocrisy of pro fracking Tory MP exposed:

A senior Tory MP who has previously voiced strong support for fracking has said he is "very unlikely" to back an application to drill on land in his own constituency.

In what is being seen as a test case for fracking in national parks, Andrew Tyrie, chairman of the Treasury Select Committee, has made it clear he is likely to oppose plans to drill in Fernhurst, a village in the South Downs National Park in West Sussex.

Pro fracking Tory MP rejects drilling in his own backyard

Tarrel · Post by **Tarrel** » 04 Mar 2014, 21:52

Well, at least he's being openly hypocritical!

emordnilap · Post by **emordnilap** » 05 Mar 2014, 10:04

raspberry-blower wrote:Hypocrisy of pro fracking Tory MP exposed:
A senior Tory MP who has previously voiced strong support for fracking has said he is "very unlikely" to back an application to drill on land in his own constituency.

In what is being seen as a test case for fracking in national parks, Andrew Tyrie, chairman of the Treasury Select Committee, has made it clear he is likely to oppose plans to drill in Fernhurst, a village in the South Downs National Park in West Sussex.
Pro fracking Tory MP rejects drilling in his own backyard

Mark · Post by **Mark** » 05 Mar 2014, 13:27

Shale gas estimate in North West 'bigger' than previously thought:
http://www.bbc.co.uk/news/science-environment-26440101

Estimates of Cuadrilla's shale gas resource in the North West of England may have to be increased significantly upwards. A geologist with the company said there is 330 trillion cubic feet (tcf) of gas in place in its licence area, 50% more than previous estimates. Cuadrilla is the only company in the UK to have used hydraulic fracturing (fracking) in its test wells.

But it could take two years to see if the gas is commercially viable.
Last summer the British Geological Survey (BGS) reported that there could be around 1,300 tcf of gas in the Bowland basin in North West England. Based on data from two wells that it had fracked in 2011, Cuadrilla estimated that there was around 200 tcf in its licence areas.

Continues...

biffvernon · Post by **biffvernon** » 05 Mar 2014, 13:34

On the other hand, Paul Mobbs says: http://www.theecologist.org/News/news_a ... order.html

emordnilap · Post by **emordnilap** » 05 Mar 2014, 14:07

Mark wrote:A geologist with the company said

Ah.

emordnilap · Post by **emordnilap** » 05 Mar 2014, 14:14

biffvernon wrote:On the other hand, Paul Mobbs says: http://www.theecologist.org/News/news_a ... order.html

He's got a good handle on it, alright, though I doubt that his specific argument will prevent a single well.

Tverberg also has a decent grasp of the economic future of fossil fuels but again, this tends to give the overall impression that the economy is more important than the climate. Having said that, in the absence of anything meaningful being done on the climate side, maybe a total financial collapse is our only hope.

We don’t know how this will end, but we do know that the Former Soviet Union collapsed into its constituent parts when fossil fuel surpluses were reduced, prior to 1991. Egypt and Syria both have had civil unrest as their oil exports ended. Clearly very large government changes are possible, as surpluses disappear.