Gas deposit

[b4mbi]

14 minutes ago, Kopek said:

What I meant by 'Manx Benefit', was would there be a Manx pumping etc. station with multi employees and employment opportunities for us?

If the gas is landed on the Island, how would they get any surplus to England?

Through the gas interconnector where we get our gas from for the power station. It's capable of export as well as import of gas. 

But most would probably be exported to Ireland.

Edited November 21, 2021 by b4mbi

[b4mbi]

4 hours ago, Non-Believer said:

A gent on the radio the other day was suggesting that if there is a gas deposit there it won't be anything like of the scale that's being bandied around. He drew comparisons with an existing, adjacent much smaller field and suggested that this "new" field would be more akin to that.

He, nor me, nor the company know for certain the recoverable quantities of natural gas at the moment.

It's all speculation until a detailed survey is done/test well drilled.

The key point is, at no cost to the taxpayer, we should find out with a much higher degree of certainty the size/recoverability of the field, before dismissing the prospect out of hand.

He may be right, but equally maybe wrong, and if it costs nothing to taxpayer other than reputation, let's find out!!

After all, our reputation as a "low tax jurisdiction" doesn't seem to bother people that much....

 

[2112]

6 hours ago, hissingsid said:

Today on MR David has said he thinks that the gas deposit under the Island should be investigated, interesting, of course he is in Treasury now and has his money hat on.   I think he is right it would be foolish to to ignore the possibilities that this could prove fruitful.

The gas deposit is £250 to set up an account.

[Happier diner]

3 hours ago, GD4ELI said:

You really think IOM government can extract gas cheaper than a large professionally managed field?

Shouldn't be using gas anyway.

I don't think IOM government  would have anything to do with it other than collect the tax revenues.....then waste it on something else. 

[Happier diner]

54 minutes ago, b4mbi said:

Through the gas interconnector where we get our gas from for the power station. It's capable of export as well as import of gas. 

But most would probably be exported to Ireland.

Well it's a fair theory. It would be quite complicated but not impossible. 

[ian rush]

Anyone who thinks this gas will be connected to the iom first and not to the uk is living in bullshit land.

1) The BGE interconnector is inward only to Ireland (and us).

https://www.irishtimes.com/business/energy-and-resources/bord-gáis-networks-considers-200m-cost-of-interconnectors-1.1398051

2) Our market too small and storage costs too high even leaving aside need for new infrastructure at sea and on island to bring it to shore and land it into existing network.

Question is: how serious are we about climate change? Only if all royalties are ring fenced to accelerate serious climate change investment, insulation and interconnection might there be a justifiable case.

The last thing id want it for is investment into over big facilities (nobles) or as an alternative to long term sustainable public spending and decent level of direct taxation i.e rich pay more than they do at present. And by rich i mean capital as well as income.

[GD4ELI]

1 hour ago, Kopek said:

What I meant by 'Manx Benefit', was would there be a Manx pumping etc. station with multi employees and employment opportunities for us?

If the gas is landed on the Island, how would they get any surplus to England?

You realise that it needs processing before the general riff-raff get it in the homes?

Yea, nice big dirty gas plant.

[Max Power]

40 minutes ago, offshoremanxman said:

Funding the transition to greener energy is what’s being done worldwide as you can’t just magic a multi billion pound industry up overnight.

Particularly when the technology is based on 'when and if!' 

There's no viable storage for renewables, the UK's current capacity for renewable storage is 38 minutes. All the tellys would go blank before the cup final half time if it was a cloudy day with no wind!

[ian rush]

Agree, we'd get royalties, irrespective of where it gets sent. 

[Kopek]

Footy? Don't worry the Green Final will cover it!!

[Aislinn]

7 hours ago, Happier diner said:

Using this gas doesnt mean there would be more gas used. Just gas from a different place. Surely it would replace imported gas. We wouldn't necessarily use more gas or contribute any more to global warming.

Or am I missing something?

Yes, I think you are missing something.

This same argument could be made to any new drilling, fracking or other fossil fuel extraction. The Saudi's could equally say, 'oh, well, you'd just be buying the oil somewhere else anyway so really we're just providing a different source!'

The fact of the matter is that this gas which would otherwise go unextracted is now going to get extracted and the carbon released into the atmosphere which is precisely what we don't need from an environmental standpoint.

Now, it's totally fair to believe that current manx economic and energy security interests should come before a slow moving, global environmental catastrophe that will hit poor nations far before it effects us (if it ever even does), but let's not invent up some absurd rationale as to why it's somehow ethically permissible to extract in this case.

 

9 hours ago, NoTailT said:

Drilling for gas off the Isle of Man isn't a major problem in the global picture. Far bigger problems. In the short to medium term, this is important.

Just vegan eco warriors can cling on to it easily.

This is precisely why it's called the _tragedy_ of the commons

[hissingsid]

The amount in question cannot be measured in any form against the amount of oil the Saudi’s extract.    The Chinese probably do more damage in an hour than this process would make.     Get the drills out.

[Andy Onchan]

19 hours ago, Aislinn said:

The fact of the matter is that this gas which would otherwise go unextracted is now going to get extracted and the carbon released into the atmosphere which is precisely what we don't need from an environmental standpoint.

So what's the answer, without bankrupting the Island?

[Happier diner]

19 hours ago, Aislinn said:

Yes, I think you are missing something.

This same argument could be made to any new drilling, fracking or other fossil fuel extraction. The Saudi's could equally say, 'oh, well, you'd just be buying the oil somewhere else anyway so really we're just providing a different source!'

The fact of the matter is that this gas which would otherwise go unextracted is now going to get extracted and the carbon released into the atmosphere which is precisely what we don't need from an environmental standpoint.

Now I am not saying I support drilling for gas in manx waters. For different reasons.

However surely your maths is wrong.

How do you work out that more gas will be released into the atmosphere. It will be the same

[ian rush]

The more thats extracted the more there is on the market, typically meaning the cheaper it is, thereby slowing the necessary tip to renewables.