In just over five years Britain will have run out of oil, coal and gas, says “A report by the Global Sustainability Institute..”
What is it about the resources industry that it is fated to be misunderstood?
In just over five years Britain will have run out of oil, coal and gas, says “A report by the Global Sustainability Institute..”
What is it about the resources industry that it is fated to be misunderstood?
Just an attempt to keep the “renewables” subsidy mining going.
Thatcher went Nuke & Gas to stop the coal mining unions holding Britain to ransom.
They have coal. They, under the direction of Richard Courtney, developed & successfully tested their own version of Coal to Gas to Liquid ( GTL) which was so successful it at the time would have destabilized the economics of Brent ( North Sea Crude), It got shelved & dismantled.
Who ever let this rasberry out into the British media probably belongs to the same group which gave us the 10:10 videos.
– probably has a tin foil hat , bong & Kaftan for every fashionable rally or protest
It is estimated there are trillions of tons of coal under the North Sea. Which if correct, means there is more coal under the North Sea than mined in world history.
The Greens haven’t manage to derail a major project to mine it.
www.thejournal.co.uk/news/north-east-news/drilling-date-set-north-seas-6896191
Good find – there is even an ASX company –
nae.net.au/projects/united-kingdom/lochinvar/
New Age Exploration Ltd drilling near the England/Scotland border. They seem to have exports in mind.
NAE market capitalization is only $7million
“What is it about the resources industry that it is fated to be misunderstood?”
Several very powerful forces combine here. The first is the abysmal ignorance of most of the populace about geology/engineering (and there is no wish to relieve this ignorance); the second is the ease with which advocacy groups are then able to manipulate this ignorance, aided by an unscrupulous MSM
Whenever we see some headline such as “Five years of Coal Left”, we search in vain for the predicted annual consumption over those 5 years to compare it with known reserves (also never directly quoted). Yet I know that many people believe such headlines – I am continually told that it must be true because they read it in the paper or heard it on TV. I have long given up trying to inform people on these issues
On current annual consumption, the UK mainland has about 250 years of known coal Reserve available. Considerable portions of this Reserve may be sterilised by future growth in Regulations or simply constrained by future infrastructure housing population growth, but stating “only 5 years to go” is quite deliberate scaremongering, akin to falsely shouting “FIRE” in a crowded cinema
Of course, the fate of being “misunderstood” is not much improved by the pernicious habit of the MSM in reporting some annual profit in a good year, like “BHP Makes $8bn Profit” rather than the actual % return on invested capital (perhaps 8%). This method of reporting is deliberately designed to stir the innate envy of the populace
Such is life
Science is good.