OT - the current crisis

[Andy_Faber]

I would suggest that demonstrates that many people have yet to grasp what is actually going to happen when their electric and gas bills kick in. Which is to be expected because most of the middle income people haven't had to deal with financial hardship for years.

You may be right, I'm just reporting a moment in time. I still don't think the media are helping matters, if you google 'energy bill calculator' its dominated by newspapers and other news sites offering such, and the vast majority are so crude they aren't worth using - basically, input = your current energy bill, answer = 'you're ****ed!'.

So, you may be right. As I've written elsewhere, I've tried to help acouple of 'unenlightened' folk who are 'worried' (some very old, some very young), but I haven't spoken to anyone in employment who has tipped over from 'concerned' to 'worried' - but my 'bubble' includes a lot of 'professionals'/'professional tradesmen' and double income families and I guess those below that level will be hit much harder.

[MadAmster]

.... and now pubs in Derbyshire and East Staffs are said to be in danger of closing permanently if they don't get support. I'm over 11 to13 and 23 to 25 September and will do my bit to support them but I fear I will need help from others to make a difference, despite my best efforts.

[swaledale]

.... and now pubs in Derbyshire and East Staffs are said to be in danger of closing permanently if they don't get support. I'm over 11 to13 and 23 to 25 September and will do my bit to support them but I fear I will need help from others to make a difference, despite my best efforts.

Ah when the pubs and clubs start shutting, thats when the revolution will kick in!!

I think a lot of businesses are going to be struggling, most have fixed term contracts, but where those finish it will be at a price many small and medium businesses will not be able to afford.

Still I've heard Truss is aiming to hand out licences for more oil and gas exploration, given the average time from finding a oil/gas field to it being pumped ashore is 28 years, I'd say we are all ****ed!!

[Geoff Parkstone]

I think they know where stuff is, Swale, but deepwater drilling has ceased whilst oil prices have been relatively low as its uneconomic. With prices going up, deepwater drilling becomes more economic and so oil companies will start drilling. Of course OPEC will see this and bring more oil into production themselves, quicker than deepwater development, and so push the price back down. This is ultimately what is wanted and the threat to restart deepwater activities will often achieve - in theory - all down to market cartels like OPEC controlling the price IM afraid!

[Ramshank72]

.... and now pubs in Derbyshire and East Staffs are said to be in danger of closing permanently if they don't get support. I'm over 11 to13 and 23 to 25 September and will do my bit to support them but I fear I will need help from others to make a difference, despite my best efforts.

That sounds like an invitation

[swaledale]

I think they know where stuff is, Swale, but deepwater drilling has ceased whilst oil prices have been relatively low as its uneconomic. With prices going up, deepwater drilling becomes more economic and so oil companies will start drilling. Of course OPEC will see this and bring more oil into production themselves, quicker than deepwater development, and so push the price back down. This is ultimately what is wanted and the threat to restart deepwater activities will often achieve - in theory - all down to market cartels like OPEC controlling the price IM afraid!

You don't need an exploration licence to restart on known fields, these are new exploration licences which were supposed to have been stopped under the move away from fossil fuels, so they won't be contributing for many years.

Even with existing fields that they may have stopped exploiting, or resources which they know about but haven't tapped into, we are talking about a process which takes on average 5 years before full scale production happens.

[Trickytreesreds]

No doubt upsetting all the green whorshippers.
Meanwhile in Russia

https://uk.finance.yahoo.com/news/ru...090551605.html

[ramAnag]

No doubt upsetting all the green whorshippers.
Meanwhile in Russia

https://uk.finance.yahoo.com/news/ru...090551605.html

...and your point is?

[Geoff Parkstone]

If you can't understand the relevance of this and the impact on global energy prices of actions such as this, you really have no place commenting on this thread. It's basic supply and demand and when supply is disrupted like this.....

It's disturbing that this is their solution, assumes that their LNG storage facilities are full and production can't be shut off. Burning the excess production off is both wasteful and harmful to control of global warming / carbon emissions. But this is an inevitable consequence of the tit for tat politics of sanctions.

[ramAnag]

If you can't understand the relevance of this and the impact on global energy prices of actions such as this, you really have no place commenting on this thread. It's basic supply and demand and when supply is disrupted like this.....

It's disturbing that this is their solution, assumes that their LNG storage facilities are full and production can't be shut off. Burning the excess production off is both wasteful and harmful to control of global warming / carbon emissions. But this is an inevitable consequence of the tit for tat politics of sanctions.

Oh I understand that completely, GP. What I don’t understand is the sarcastic reference to ‘green worshippers’ a point I would have thought you of all people would have picked up on.