Fracking-good,bad ,greedy or essential

irrespective of the country of origin of the suppliers/extractor, not sure how Cameron can promise cheaper energy as the companies will sell into the most beneficial market for them? I seem to remember when north sea gas/oil was first extracted there was talk by the govts of the day of cheaper and even ‘free’ energy!

Cameron or any other politician can’t,it’s all soundbites for the upcoming election ,vote for idiot 1 ,2, or 3.

No, the ‘Free energy’ promise was in the early, exciting days of nuclear.

Lewis Strauss, then Chairman of the United States Atomic Energy Commission, in a 1954 speech to the National Association of Science Writers.

“Our children will enjoy in their homes electrical energy too cheap to meter… It is not too much to expect that our children will know of great periodic regional famines in the world only as matters of history, will travel effortlessly over the seas and under them and through the air with a minimum of danger and at great speeds, and will experience a lifespan far longer than ours, as disease yields and man comes to understand what causes him to age

Moggy

How has shale had such a beneficial effect in the US? Energy costs reduced to such an extent that manufacturing is returning from overseas. The effect on the US debt is going to be significant by 2025.

irrespective of the country of origin of the suppliers/extractor, not sure how Cameron can promise cheaper energy as the companies will sell into the most beneficial market for them? I seem to remember when north sea gas/oil was first extracted there was talk by the govts of the day of cheaper and even ‘free’ energy!

A misunderstanding. My post was in response to an earlier comment about the preference for state control of key utilities. I then suggested that the costs to the taxpayer for the discovery and development of oil and gas reserves would have been unsustainable.

Your comment was to whether the taxpayer could afford the investment required to maintain our energy supplies, I merely used the railways as an example of just where that thinking has taken us previously, notice that not one of the energy generating companies is prepared to invest without subsidy and guarantees to future bills.

Think you have missed the point. I am discussing energy supply.

Notwithstanding subsidies already paid anyway, the costs of total state investment in oil gas and nuclear would have been unaffordable for the taxpayer, don’t you think?

That sir was precisely the argument used to convince the public, that flogging off the railways was actually going to save the taxpayer £gazillions and give us cheaper public transport, that worked out well then.

I have never been very good at totally hypothetical questions, Linc….:)

[QUOTE=charliehunt;2105530]Not accurately, Linc but certainly much less than the value held by foreign investors here. About 53% of UK shares are in foreign hands, which most people in the business world see as a positive reflection on the attractions of the UK for investors.

So, Young Chas, What would happen here, if all those foreign investors pulled their 53% out of their U.K. Investments. Seems to me, that we are keeping all our eggs in one basket methinks.Or are they Underwritten?.
Jim.
Lincoln .7

Notwithstanding subsidies already paid anyway, the costs of total state investment in oil gas and nuclear would have been unaffordable for the taxpayer, don’t you think?

I agree that state owned companies have a very poor track record (that goes for state owned anything!). Perhaps there could be a middle ground with essentials? We certainly don’t want to be going back to the dark old days, when the state even owned a removals firm! 😀 But, on the other hand, the thought of private control of water and energy does not fill me with confidence.

NO. but I am sure you can enlighten me?.
Jim
Lincoln .7

Not accurately, Linc but certainly much less than the value held by foreign investors here. About 53% of UK shares are in foreign hands, which most people in the business world see as a positive reflection on the attractions of the UK for investors.

Jaz – I can see why you make that comment but the problem with the state owning any company is that it then has to run the company and the track record not just here but anywhere of state owned industry is hardly encouraging. I am not saying the alternative is a success story, but I think on balance it’s better.

And do you realise how much Brit companies own overseas? The market is truly global now. It doesn’t bother me – if people are gainfully employed and it all increases our GDP it’s better than having no inward investment and a stagnating economy, surely?

I agree, to an extent, though I believe all critical utilities should be owned by the state.

And do you realise how much Brit companies own overseas?

NO. but I am sure you can enlighten me?.
Jim
Lincoln .7

Fascinating story TwinOtter. Interesting to note that oil was transported to Pumpherston to be refined-that refinery was part of the shale oil industry here.

It is indeed a fascinating story – one of their key volunteers is the proud recipient of a ‘Goldfish Badge’; I once spent nearly 30 minutes trying to guess the aircraft that he escaped from to use his life-raft. Eventually he told me it was awarded for escaping from an oil rig incident in the North Sea during the 1960s. A wonderful character! 🙂

And do you realise how much Brit companies own overseas? The market is truly global now. It doesn’t bother me – if people are gainfully employed and it all increases our GDP it’s better than having no inward investment and a stagnating economy, surely?

Don’t you realise Chas WE ie GB hardly own anything in our own Country anymore?.Every bug**r else seems to.
Jim.
Lincoln .7

French, British, Chinese……whoever it is will require the right return for shareholders. Nationality doesn’t come in to it. Same as any other energy resource.

I understand the French wish to invest in our Fracking. That means they will want a good return on their investment, which means the so called cheaper gas, will in fact not be.
When will we ever stop being conned?.
Jim.
Lincoln .7