O/T net zero=net loss

[KerrAvon]

UK gas is four times the cost of US gas.There is no world price for gas by pipe.Domestic gas down a pipe is cheaper than imported liquefied gas.Why is this government allowing the multi millionaire maniac Milliband to pursue this insane ideology of chasing his impossible dream of net zero? He doesn't care about the cost we taxpayers are being punished and making us poorer by the day.Businesses are going bust through their excessive heating bills and unemployment keeps on rising.It's absolute bonkers !!!!!!!!!!!!

About 45% of the gas used in the UK is domestically produced. It is expensive to produce gas in the UK, however, because the bulk of that 45% comes from beneath the North Sea, which is not a cheap or easy environment to work in.

As mentioned before, the North Sea is well past peak production:

https://x.com/DrSimEvans/status/1721461344606515567

Note that the decline in production started long before the current government came to power. It's simply a reflection of the fact that the North Sea reserves are close to exhaustion (particularly for gas - there are a few more drops of oil).

[MillerBill]

There are numerous oil fields within our waters to be tapped and also vast areas of the cleanest natural gas that has been detected.Other countries are laughing at us with our race to Net Zero, which is making this country so much poorer.Why is this government allowing this idiot Milliband to kill our economy?

[KerrAvon]

There are indeed several oil fields in UK waters, Bill and they are in severe decline due to the fact that they have been exploited for close to 50 years. They will continue to produce for some time, however. There are also some dribs and drabs in the bottom of the barrel that have not been exploited to date because they are too difficult and expensive to access.

And the untapped reserves are so small that they would make diddly squat difference to the price of a product that is traded on world markets.

Stating that there are vast resources of gas remaining simply isn't true and repeatedly saying it doesn't make it true.

As I have mentioned previously, the North Sea party is over. And while we partied with tax cuts, our Norwegian neighbours set about making themselves one of the richest countries in the world:

https://www.economicshelp.org/blog/214768/economics/norway-uk-oil/

The importance of that history is that the same political class who are now claiming that hoovering up the scraps that are left in UK waters is the answer to all our woes, are the same people who frittered away the benefits that flowed from the resources that we did have access to. They are also the same people who failed to plan and invest for the post North Sea and post fossil fuel future that we all face.

That's why the UK is playing catch up and investing in renewables now.

[Redshank]

There are indeed several oil fields in UK waters, Bill and they are in severe decline due to the fact that they have been exploited for close to 50 years. They will continue to produce for some time, however. There are also some dribs and drabs in the bottom of the barrel that have not been exploited to date because they are too difficult and expensive to access.

And the untapped reserves are so small that they would make diddly squat difference to the price of a product that is traded on world markets.

Stating that there are vast resources of gas remaining simply isn't true and repeatedly saying it doesn't make it true.

As I have mentioned previously, the North Sea party is over. And while we partied with tax cuts, our Norwegian neighbours set about making themselves one of the richest countries in the world:

https://www.economicshelp.org/blog/214768/economics/norway-uk-oil/

The importance of that history is that the same political class who are now claiming that hoovering up the scraps that are left in UK waters is the answer to all our woes, are the same people who frittered away the benefits that flowed from the resources that we did have access to. They are also the same people who failed to plan and invest for the post North Sea and post fossil fuel future that we all face.

That's why the UK is playing catch up and investing in renewables now.

Spot on.

Norway leave us standing....
They have a progressive tax system, including a wealth tax. They also have far more billionaires per capita than the UK with no evidence that they are "leaving in their droves" as we're told by the Mail, Express etc. would happen if we had a wealth tax.
Extensive and well funded welfare state
Extensive and well funded national health service.
Free education up to University level
Higher standard of living
Consistently one of the countries with the highest quality of life.

All this "positivity" is fundamentally a result of how they dealt with their oil revenues from the outset.

It's so sad that the uber-rich elite raping the UK have convinced the working classes that excessive welfare payouts and immigrants are the sole reasons for a rapidly declining standard of living in the UK.

FFS we need to start punching up rather than forever punching down.

[MillerBill]

Norway's population is less than six million,ours is more than ten times that figure because we have not controlled the huge figures that have come over here.Like we all know Norway are taking advantage of the oil and gas that we should be doing.With those assets that they are using,they are able to improve their way of life.Meanwhile we have a very wealthy champagne socialist telling us we should not drill and we should use solar and wind for our power.Of course the common people must fund this through these extortionate green taxes forced on us all.We were promised our utility bills would go down but it's the complete opposite.More lies,lies.lies.