800 Billion Pounds.....

[ManxTaxPayer]

......of gas just off Maughold. Whoah. We're rich!

 

Glenfaba and Peel candidates addressed a requisition meeting on Thursday

A startling claim - that hundreds of billions of pounds worth of gas deposits are located in Manx waters - was made at an election debate last night (9 September).

Glenfaba and Peel candidate Trevor Cowin told a requisition meeting he had 'made inquiries' which, he said, confirmed the claims to be true.

It split opinion among the seven hoping to represent the constituency in the next House of Keys.

A question from an audience member asked the candidates what they would do with a potential £800bn gas deposit on the Island's seabed.

Mr Cowin said it would be 'ridiculous' not to exploit it, but Isle of Man Green Party hopeful Leo Cussons claimed it would be a 'backward step', insisting there is no market in offshore gas.

Ray Harmer described his scepticism of any such reserve and Geoffrey Boot feels taking advantage of the deposit would be 'contrary to what [the government] is trying to achieve in the climate situation'.

Independents Michael Lee and Tim Crookall both supported drilling for the gas if the figure of £800bn was true while Kate Lord-Brennan refused to comment saying she 'didn't know anything about it'.

A local company had set out its intentions to develop what it called a 'sizeable reservoir' of gas near Maughold, in October 2019, but a licence to conduct a seismic survey of the area seabed expired in April last year."

[The Phantom]

£800 billion is more than likely bullshit. 

Definitely gas out there.  Just depends how much and how viable. 

https://www.crogga.im/

 

[Ham_N_Eggs]

10 minutes ago, The Phantom said:

£800 billion is more than likely bullshit. 

Definitely gas out there.  Just depends how much and how viable. 

https://www.crogga.im/

 

Robertshaw is involved in that company.

[The Phantom]

8 minutes ago, Ham_N_Eggs said:

Robertshaw is involved in that company.

Had a snoop on Companies Reg.   He's not a director.  Might be a shareholder, but it's a 2006 Company, so that's confidential. 

 

[Andy Onchan]

20 minutes ago, The Phantom said:

£800 billion is more than likely bullshit. 

Definitely gas out there.  Just depends how much and how viable. 

https://www.crogga.im/

 

It's viable but by the time they've got it into production there'll be no market for it. 

[Ham_N_Eggs]

17 minutes ago, The Phantom said:

Had a snoop on Companies Reg.   He's not a director.  Might be a shareholder, but it's a 2006 Company, so that's confidential. 

 

I seem to remember it being on his members interests form. You're right though he definitely wasn't a director.

Edited September 10, 2021 by Ham_N_Eggs

[Cambon]

50 minutes ago, Andy Onchan said:

It's viable but by the time they've got it into production there'll be no market for it. 

There will always be a market for it. 

Edited September 10, 2021 by Cambon

[The Phantom]

2 minutes ago, Ham_N_Eggs said:

I seem to remember it being on his members interests form. Your right though he definitely wasn't a director.

Interesting.  Hadn't considered members interest declarations for MHKs, but it makes sense. 

[Boris Johnson]

48 minutes ago, ManxTaxPayer said:

......of gas just off Maughold. Whoah. We're rich!

 

Glenfaba and Peel candidates addressed a requisition meeting on Thursday

A startling claim - that hundreds of billions of pounds worth of gas deposits are located in Manx waters - was made at an election debate last night (9 September).

Glenfaba and Peel candidate Trevor Cowin told a requisition meeting he had 'made inquiries' which, he said, confirmed the claims to be true.

It split opinion among the seven hoping to represent the constituency in the next House of Keys.

A question from an audience member asked the candidates what they would do with a potential £800bn gas deposit on the Island's seabed.

Mr Cowin said it would be 'ridiculous' not to exploit it, but Isle of Man Green Party hopeful Leo Cussons claimed it would be a 'backward step', insisting there is no market in offshore gas.

Ray Harmer described his scepticism of any such reserve and Geoffrey Boot feels taking advantage of the deposit would be 'contrary to what [the government] is trying to achieve in the climate situation'.

Independents Michael Lee and Tim Crookall both supported drilling for the gas if the figure of £800bn was true while Kate Lord-Brennan refused to comment saying she 'didn't know anything about it'.

A local company had set out its intentions to develop what it called a 'sizeable reservoir' of gas near Maughold, in October 2019, but a licence to conduct a seismic survey of the area seabed expired in April last year."

Typical IOM, lets get into something that makes us a social pariah in the modern world, 

To be honest we should just declare Sharia Law and invite the Taliban to rule here,

In the real world, how worse would it be? Joking apart, how much worse would it be?

See Tax avoidance...........

See online gambling, not gaming!

See carbon fuels..;...................................................

See death on a grand motorsport scale as in the  "TT" "Death Fest"...............................................

That could easily be replaced by a twice a year Be-Heading of Infidels* 

*Anyone who should get a boat in the morning....................

 

[The Phantom]

1 hour ago, The Phantom said:

£800 billion is more than likely bullshit. 

= USD 1100 Billion

Which is the approximate GDP of the entire country of Mexico.  I've got a feeling Cowin may have just made up a really big number. 

Further, the responses from most of those Candidates prove how idiotic most of them are.  It's genuinely embarrassing. 

And I thought we had poor options in Middle!! 

[Ham_N_Eggs]

39 minutes ago, The Phantom said:

Interesting.  Hadn't considered members interest declarations for MHKs, but it makes sense. 

Handily it is not on the tynwald website but http://www.iomtoday.co.im/article.cfm?id=57263&headline=Unfair to disclose gas documents&sectionIs=&searchyear=2020

[The Phantom]

3 minutes ago, Ham_N_Eggs said:

Handily it is not on the tynwald website but http://www.iomtoday.co.im/article.cfm?id=57263&headline=Unfair to disclose gas documents&sectionIs=&searchyear=2020

Nice find.  I'd agree it doesn't need to be made public.  The company has taken a risk and paid to do surveys (which aren't cheap).  Why should any Tom, Dick or Harry or competitor then view these results.  Robertshaw has partaken in this risk also, for good or ill... 

[WTF]

39 minutes ago, The Phantom said:

= USD 1100 Billion

Which is the approximate GDP of the entire country of Mexico.  I've got a feeling Cowin may have just made up a really big number. 

 

using manx gas prices as a yard stick  that's probably about 50 17kg bottles.

[b4mbi]

£800bn is, of course, total nonsense.

Between £5bn-£10bn in tax revenue is possible.

Which has the potential to be transformative for the Island.

Pays for the transition to renewable sources  with plenty to spare. None of the climate change lobby coming up with any viable way of IOM financing and paying for the renewables infrastructure we all want.

Gas will still be a big part of the global energy mix in 2050. Germans haven't put nordstream2 pipeline in place for a 10 year lifetime.

 The development of the maughold field would have a 10-15 year life cycle, which would be well within any 2050 target.

It's conventional gas extraction, just as has been done in morecambe fields since 1985. Any mention of "fracking" is scaremongering nonsense.

Any politician that turns down or is against the potential for this sort of revenue cannot claim to be acting in the best interests of the Island, as this is THE opportunity to pay for renewables WITHOUT having to increase taxes to pay for it.

[Danoo]

24 minutes ago, b4mbi said:

£800bn is, of course, total nonsense.

Between £5bn-£10bn in tax revenue is possible.

Which has the potential to be transformative for the Island.

Pays for the transition to renewable sources  with plenty to spare. None of the climate change lobby coming up with any viable way of IOM financing and paying for the renewables infrastructure we all want.

Gas will still be a big part of the global energy mix in 2050. Germans haven't put nordstream2 pipeline in place for a 10 year lifetime.

 The development of the maughold field would have a 10-15 year life cycle, which would be well within any 2050 target.

It's conventional gas extraction, just as has been done in morecambe fields since 1985. Any mention of "fracking" is scaremongering nonsense.

Any politician that turns down or is against the potential for this sort of revenue cannot claim to be acting in the best interests of the Island, as this is THE opportunity to pay for renewables WITHOUT having to increase taxes to pay for it.

Think of all those MARS payments (or whatever the swindle is called these days) you could pay for with that. The civil service top brass will be positively salivating at the prospect.

Edited September 10, 2021 by Danoo