Gas deposit

[The Phantom]

2 minutes ago, HeliX said:

She stood on a fairly green manifesto and got elected.

Yeah I heard the green views of all my proposed representatives. 

"We'll plant some trees".  Literally nothing else. 

Was she any better? 

 

[Omobono]

Just now, HeliX said:

She stood on a fairly green manifesto and got elected.

perhaps she should explain  to her constituents  why she is so opposed  to even finding out if there is any gas there , typical labour champagne socialist approach , knowing full  well someone else in Tynwald  will have to come up with a solution , 741 votes in the general election  is hardly a massive result when we have a population  of over 80 thousand struggling with energy costs , 

[Declan]

6 minutes ago, The Phantom said:

Yeah I heard the green views of all my proposed representatives. 

"We'll plant some trees".  Literally nothing else. 

Was she any better? 

 

At the constituency meeting for Rushen the Crogga issue came up. All the candidates spoke against it. 

 

3 minutes ago, Omobono said:

perhaps she should explain  to her constituents  why she is so opposed  to even finding out if there is any gas there , typical labour champagne socialist approach , knowing full  well someone else in Tynwald  will have to come up with a solution , 741 votes in the general election  is hardly a massive result when we have a population  of over 80 thousand struggling with energy costs , 

 

She's put an explanation on facebook. She points out that during her campaign most in her constituency wanted a green agenda. In any case the claim is that Crogga won't produce any gas before 2030 so is not going to impact the current cost of living crisis. 

[The Phantom]

1 minute ago, Declan said:

At the constituency meeting for Rushen the Crogga issue came up. All the candidates spoke against it. 

And that was even when that Clown in Peel claimed that it was £800 Billion in reserves. 

Whatever figure it was, I remember looking for a GDP comparative.  It was the entire country of Mexico. 

[b4mbi]

5 minutes ago, The Phantom said:

Yeah I heard the green views of all my proposed representatives. 

"We'll plant some trees".  Literally nothing else. 

 

They'll have to be magic money trees then.

The problem is the greens/labour have no credible plan on how to finance the push for renewables. More taxes anyone?

Buying them in -  Island at the mercy of market prices - no energy security

Incentivising private investment to build renewables means guaranteeing a minimum price/profit at which the energy will be purchased for many years to come. Higher energy prices than necessary

Exploiting gas asset, potentially provides many £££billions for renewable investment, and a national wealth fund, capped energy prices for lifetime of the field. 

No brainer to verify what's there and exploit if possible. It could be transformative for the Island.

 

[HeliX]

14 minutes ago, Omobono said:

perhaps she should explain  to her constituents  why she is so opposed  to even finding out if there is any gas there , typical labour champagne socialist approach , knowing full  well someone else in Tynwald  will have to come up with a solution , 741 votes in the general election  is hardly a massive result when we have a population  of over 80 thousand struggling with energy costs , 

She has. Both on her FB, and in the linked audio clip. Honestly does anyone on here actually put any effort at all into looking for something before whinging it doesn't exist?

[HeliX]

Just now, b4mbi said:

They'll have to be magic money trees then.

The problem is the greens/labour have no credible plan on how to finance the push for renewables. More taxes anyone?

Buying them in -  Island at the mercy of market prices - no energy security

Incentivising private investment to build renewables means guaranteeing a minimum price/profit at which the energy will be purchased for many years to come. Higher energy prices than necessary

Exploiting gas asset, potentially provides many £££billions for renewable investment, and a national wealth fund, capped energy prices for lifetime of the field. 

No brainer to verify what's there and exploit if possible. It could be transformative for the Island.

Joney's comment on the financial side of it was that it'll be 2030+ before the gas is in a position to be sold, at which point gas is likely not to be as financially beneficial as renewables anyway. I think that's probably right

[b4mbi]

5 minutes ago, The Phantom said:

And that was even when that Clown in Peel claimed that it was £800 Billion in reserves. 

Whatever figure it was, I remember looking for a GDP comparative.  It was the entire country of Mexico. 

The clown in Peel said £800Bn , the figure he'd heard and what he meant was 800 Billion Cubic Feet of gas potentially there. 

[The Phantom]

5 minutes ago, b4mbi said:

They'll have to be magic money trees then.

The problem is the greens/labour have no credible plan on how to finance the push for renewables. More taxes anyone?

Buying them in -  Island at the mercy of market prices - no energy security

Incentivising private investment to build renewables means guaranteeing a minimum price/profit at which the energy will be purchased for many years to come. Higher energy prices than necessary

Exploiting gas asset, potentially provides many £££billions for renewable investment, and a national wealth fund, capped energy prices for lifetime of the field. 

No brainer to verify what's there and exploit if possible. It could be transformative for the Island.

 

I've done some work in the past with Norfund.  The largest Sovereign Wealth/Pension Fund in the world.  Set up by Norway using surplus cash from it's oil.  Now invests in predominantly green and development projects in Africa. 

We can but dream.... 

https://earth.org/how-norways-oil-industry-will-determine-its-future/

[b4mbi]

8 minutes ago, HeliX said:

Joney's comment on the financial side of it was that it'll be 2030+ before the gas is in a position to be sold, at which point gas is likely not to be as financially beneficial as renewables anyway. I think that's probably right

On what basis is she making those claims?

Gas will be an important part of the global energy mix until at least 2050, probably beyond. Unless they crack fusion, which is always 30 years away!

Crogga has 26 months license extension to get seismic data, then 3 years after that to drill, if,if....

[Cambon]

2 hours ago, b4mbi said:

On what basis is she making those claims?

Gas will be an important part of the global energy mix until at least 2050, probably beyond. Unless they crack fusion, which is always 30 years away!

Crogga has 26 months license extension to get seismic data, then 3 years after that to drill, if,if....

Interestingly, since this thread began last November, the value of the potential yield from the gas field has more than tripled. 

[b4mbi]

3 minutes ago, Cambon said:

Interestingly, since this thread began last November, the value of the potential yield from the gas field has more than tripled. 

Natural gas - BBC News look at 5yr chart.

Estimates of our reserves from oil and gas professionals and based on interpretation of existing data from previous drilling/2d surveys in the 1980's equate to around 14 Billion therms.

It is PROVEN gas is there.

Surely we must do our best to find out if these estimates are anywhere near ball park or just sales guff?

The potential figures would be transformative and too big to ignore.

 

 

[hissingsid]

Crogga have just been given an extension of time and good luck to them.  If Joney Faragher had had anything to bring to the table she is a bit late.   

[Manx Resident]

 

7 hours ago, b4mbi said:

They'll have to be magic money trees then.

The problem is the greens/labour have no credible plan on how to finance the push for renewables. More taxes anyone?

Buying them in -  Island at the mercy of market prices - no energy security

Incentivising private investment to build renewables means guaranteeing a minimum price/profit at which the energy will be purchased for many years to come. Higher energy prices than necessary

Exploiting gas asset, potentially provides many £££billions for renewable investment, and a national wealth fund, capped energy prices for lifetime of the field. 

No brainer to verify what's there and exploit if possible. It could be transformative for the Island.

Agree that while Ms Faragher and others say we shouldn’t exploit potential gas revenues which might pay for our transition to green energy they never explain how the majority of people are going to afford to convert from gas and oil heating to use green energy.

Let’s say it costs £10k to transition a house (insulation, boiler, radiators etc) to an alternative energy source then the Government’s (tax payers) £42million pot would presumably pay for the transition of approx 4000 houses which I assume would equate to the numbers of Government/Local Authority houses and low income households which would need attention.

Then taxpayers will be expected to pay (again) to insulate their own homes and convert their own heating to use alternative green energy. An argument will be made that the initial investment will be recouped in about ten years, if prices don’t increase, but what if people haven’t got the money following the years of inflation and recession which we are facing.

Also, where is the money coming from to replace the power station, and for investment in establishing companies, training apprentices etc to undertake the work that will be required to transition 1000s of houses.

It is definitely time the people who dismiss the potential gas revenues and promote green energy explain where the magic money trees are planted…..

[Two-lane]

It seems that much of the discussion is about using solar or wind energy for home use. Conserving energy at an individual level.

It is generally thought that the most important factor for life is water, but the reality is that the most important thing for civilised life is electricity. Without electricity there is no water, no operating theaters, no refrigerated medicines, no airport landing lights, no communications and so on.

It is possible to reduce the electricity consumption for households using using insulation/solar/wind , but industry, society, requires a large amount of rock-solid supply.

Note that if there is a single point of supply, a failure of that supply would be catastrophic. If the IoM relies only on the UK inter-connector, that is a big problem. Inter-connectors have failed, and they take a long time (possibly months) to fix. Local power stations are essential.