Brexit uncertainty strengthens the case for UK shale 

Posted: July 4, 2016 by oldbrew in Energy, Shale gas
Tags: ,

[credit: cityam.com]

[credit: cityam.com]


Jamie Ashcroft in Proactive Investor explains why declining North Sea gas and a weaker pound make a compelling case for pushing on with UK shale gas developments without further delays.
H/T GWPF

The pending exit from the European Union strengthens the argument for the development of Britain’s currently untapped shale gas resources.

Britain’s energy security should be a concern whether it remains in the EU or not, though the vote to leave makes this an increasingly acute issue. Quite simply Britain doesn’t produce enough gas of its own.

Currently around half of Britain’s gas demand is met by foreign supplies – most of which is piped into the country via Europe. Immediately that gas became more costly with the Brexit verdict, as a result of the pound plummeting, because it is a dollar denominated commodity.

Britain depends upon foreign gas
In the past two year gas imports as a percentage of demand amounted to 48% and 44% respectively, and, according to forecasts from the UK Oil & Gas Authority imports will hit 50% this year. Ten years ago the figure was just 12%. Moreover, as gas operations in the UK North Sea continue to mature and decline it is expected that the country will become increasingly reliant on imports.

Current government forecasts indicate that ten years from now gas imports will account for almost 70% of demand and by 2035 that is predicted to rise further to 80%. […]

Shale may prove strategically important for independent Britain
England does, in theory, have vast resources of gas locked in shale deposits which span large areas through the north-west, across the midlands and up into Yorkshire. For whatever portion of the current United Kingdom emerges from this historic phase of political upheaval, these domestic resources will have added importance strategically.

Source: Brexit Uncertainty Strengthens The Case For UK Shale | The Global Warming Policy Forum (GWPF)

Comments
  1. oldbrew says:

    ‘Nigel Farage QUITS as Ukip leader and declares: ‘I’ve done my bit… now I want my life back’

    Read more: http://www.dailymail.co.uk/news/article-3673363/Nigel-Farage-QUITS-Ukip-leader-declaring-ve-bit.html

  2. Fracked gas could make our manufacturing industry competitive at a stroke.
    Will the green Luddites be allowed to prevent it?

  3. Zeke says:

    oldbrew’s link
    Nigel Farage resigns

    “As he announced his resignation this morning, which came as a surprise to many, he said he wasn’t a ‘career politician’ and decided now was the right time to step aside, but will continue in his role as an MEP until Britain officially cuts ties with Brussels.

  4. oldbrew says:

    ‘The Beeb is on a mission to destroy the Brexit vote’

    ‘News-watch’s BBC Complaints website has been inundated since Friday morning with a deluge of submissions, all saying broadly the same thing: the BBC now sees its mission to undermine Brexit in any and every way it can.’
    http://www.conservativewoman.co.uk/david-keighleys-bbc-watch-the-beeb-is-on-a-mission-to-destroy-the-brexit-vote/

  5. oldbrew says:

    Moray Firth wind energy project at risk after Brexit vote

    A number of businesses have reported the result of the June 23rd referendum has created uncertainty for their sectors due to volatility in financial markets and the unclear outlook for Britain’s access to European trading partners.

    Richard Slark, director at energy consultancy Poyry, said: “I believe we are looking at a 2-3 year hiatus in those large-scale energy projects where financing would be international.”
    http://www.wind-watch.org/news/2016/07/02/moray-firth-wind-energy-project-at-risk-after-brexit-vote/

    Try not to be upset😉

  6. oldbrew says:

    BREXIT: RENEWABLES INDUSTRY FEARS BREAK-UP OF GREEN CONSENSUS
    http://www.thegwpf.com/brexit-renewables-industry-fears-break-up-of-green-consensus/

    Again, try not to be upset.

    ‘None of the contenders to replace David Cameron as prime minister are vigorous renewable energy advocates and one, Michael Gove, was once accused of trying to downgrade climate change in the national schools curriculum.’

    How awful:/

  7. ren says:

    “FACT Changing CO2 has no effect
    The Models used by the Met Office and UN’s Climate Committee (the IPCC) show CO2 levels have no effect on the Jet Stream or extremes which come from the Wild Jet stream changes they fail to predict.
    It is standard meteorology that the recent wild weather extremes and contrasts follow from the wild Jet Stream behaviour. THAT Wild Jet Stream (Mini-Ice-Age) behaviout was and is regularly predicted by Piers Corbyn’s Solar-Lunar approach and is nothing to do with CO2. See http://www.weatheraction.com/docs/WANews14No06.pdf & Piers’ video http://bit.ly/QS0k34 The claim that these extremes are driven by CO2 / man made Climate Change is a brazen falsity for which there is no evidence or scientific paper which demonstrates a link in the real world.”

  8. oldbrew says:

    Brexit: Lots of countries want to do trade deals with UK. (Surprise, Surprise)
    http://joannenova.com.au/2016/07/brexit-thread-lots-of-countries-want-to-do-trade-deals-with-uk/

    Don’t tell miserables like Carney and Osborne.

  9. oldbrew says:

    BBC report:
    The government’s climate change advisors have given a cautious green light to fracking in the UK.

    The Committee on Climate Change (CCC) says fracking can go ahead if three key tests are met.

    And the government says it already plans to meet those tests – on methane leaks, gas consumption and carbon budgets.
    http://www.bbc.co.uk/news/science-environment-36727751

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