Oil prices tend to operate on a cycle. Price drops, use increases, price goes up due to higher demand, use drops due to higher prices, cycle starts again.
Crystal ball isn't needed just knowledge of the oil industry and it's market.
Tories grant 18 fracking licences - all north of Leicester
- Thread starter scorza
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Oil prices tend to operate on a cycle. Price drops, use increases, price goes up due to higher demand, use drops due to higher prices, cycle starts again.
Crystal ball isn't needed just knowledge of the oil industry and it's market.
Because they aren't fracking licences and licence rounds happen regularly (both off and onshore). Usually it's every 18 months to two years but because of the debate going on about fracking the 14th onshore round has been delayed by about 3-4 years! It took a lot longer for the winning blocks to be announced as well this time round due to the politics of it all.
Companies then have a set period of time (6 years IIRC) to explore, drill and apply to develop the acreage. If they don't the licence is revoked.
Also worth noting the round opened for submissions last summer when oil prices were much higher.
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Soldato
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It is cheeky that the proposed fracking sites are only in the north but hopefully it will be good for jobs which the north badly needs.
That being said lot of people don't seem to like fracking, nuclear power, wind turbines, or oil etc. Although im sure they be the first to complain about the price of fuel for there car, the gas to heat there home or the electricity to power there PC.
We import a lot of out gas and oil and nearing the capacity of the power grid as well which will only get worse as the current generation of nuclear power stations gets shut down.
I'm I the only one that sees a energy crisis of our own doing coming ?
That being said lot of people don't seem to like fracking, nuclear power, wind turbines, or oil etc. Although im sure they be the first to complain about the price of fuel for there car, the gas to heat there home or the electricity to power there PC.
We import a lot of out gas and oil and nearing the capacity of the power grid as well which will only get worse as the current generation of nuclear power stations gets shut down.
I'm I the only one that sees a energy crisis of our own doing coming ?
Soldato
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I get really agitated when I read about people protesting against fracking. I don't care if it is bad against the environment, we need energy to live our lives. People who protest don't seem to realise we are completely and utterly reliant on oil and gas. If the people we buy from (Russia indirectly I think?) turn off the taps we're running severely under fuelled and would probably result in civil unrest; we're addicted.
It's the same as when people protest and block planning for new power stations being construction. Of course its much safer to force a 50 year old power station keep going past its sell by date (because there are no replacement power station) than allowing planning permission for a new power station. people don't realise just how reliant we are on energy and where it comes from.
Sometimes I want to murder everyone in the UK.
It's the same as when people protest and block planning for new power stations being construction. Of course its much safer to force a 50 year old power station keep going past its sell by date (because there are no replacement power station) than allowing planning permission for a new power station. people don't realise just how reliant we are on energy and where it comes from.
Sometimes I want to murder everyone in the UK.
Most people start protesting when it turns up on their doorstep. Nimbyism I think it's called.Would you be happy if it happened next to you? Do you think your house would be worth what it is now, and would you be quite happy that the value could plummet?
No problem at all with that?
Over 70 miles in just an hour, hope you didn't break any speed limits
The funny thing is that Britain and Oklahoma are roughly the same damn size, it's not like it can cause level 3 earthquakes in Newcastle and they won't be felt in London
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Soldato
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You seem to forget that alternative/renewable energy is a totally viable option and a long term one at that. Doesn't **** with the environment, doesn't mean we're reliant on finite resources, and we can continue leaving our PCs on overnight...
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Worried about house prices ? what about the many millions who can't afford there own home should they have to suffer high prices of gas or electricity because some home owner didn't want power station or fracking site within 25miles of them ?
No one is every happy if anything is built near them, weather it be roads, houses, airports or fracking sites etc. So what's the solution to meet our energy needs I ask. Should we just wait until the "poo" its the fan the same people go rabble rabble rabble if the lights go out or gas prices go up again or just cut out if Russia doesn't want to surprise Europe any more with gas.
Nimbyism as you put it I do find very annoying and selfish.
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It’s part of the solution (along with nuclear) but not the only solution due to not being able to deliver the power in a reliable manner. On top the normal not “not in my back yard” not wanting rows wind turbines or WEC within eye shot and so on.
I would love it if all new builds had solar panel's or turbines on the roof.
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Totally agree with you on both counts. As an added coo, fusion reactors aren't far off, which is very exciting.
Really, Fracking is good. The so called evidence is for uncontrolled Fracking. Which isn't what we will get un the uk. USA is not known for it's care of environment or well anything else. It even gives one reason if vast undeveloped land, and if you look at the nice diagram, plenty off Fracking licenses have been granted in the passed to the south.
Fracking simply needs to be properly licensed and regulated, like any massive industrious projects.
As for op, pushing the north south agenda, disgusting.
You know there's probably good reasons. For a start north needs investment and jobs, secondly there's less developed land and probably a thousand and one other reasons inti the granting or not granting if said licenses. And I bet if it was down south, he would complain that no investment happens in the north.
It's the exact opposite, it's a good use of power. The public should not be blindly followed and thank god it's not. Other wise there would be daily blackouts, country would be broke etc.
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The country is broke, isn't it? If I was in debt to the tune of however many hundreds of billions we are, I'd say I was broke 
Obviously we have a good credit rating and we're not Greece.
Also obviously I don't understand how economies work
Obviously we have a good credit rating and we're not Greece.
Also obviously I don't understand how economies work
Well you could move it offshore, which isn't a bad idea in itself. With a combination of wind, wave and tide energy you could get a significant amount of our energy needs sustainably and with a fair amount of reliability. You just have to be happy to pay higher energy bills for a decade or so before the costs come down enough.
That, combined with gas for instant top up power needs (for the next 30-40 years) and rooftop solar, would provide a good energy mix with low carbon and reliability.
Unfortunately people aren't willing to do that. It's much easier to say no than yes in most people cases it seems.
Assuming I haven't got the wrong end of the stick, it's basically produced water reinjection. This is typically done to provide reservoir pressure support (keeping the reservoir pressure as high as possible to aid production).
I live in the North and in a fracking area and I say "BRING IT ON"
https://www.youtube.com/watch?v=FpE_STh3E8I
At least lets find out if it workable in the UK before moaning about it.
https://www.youtube.com/watch?v=FpE_STh3E8I
At least lets find out if it workable in the UK before moaning about it.
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That's generally for oil where you re inject water to keep the pressure up as you say.
Water is a killer for gas however and the last thing you want to do is add more water into the mix.
For gas it's normally reinjected as it is the easiest way of disposing it, because you don't need to clean it up (putting the water back where it came from for example). It's probably dependent on whether it is flowback water or whether it is formation water produced at the same time as gas (the latter being fairly common with conventional gas production). if it's the latter it will also depend on whether you are injecting the water into the same formation it came out of or whether it's a different formation. I don't know what the Oklahoma injection wells are doing tbh.
In the UK the EA are very strict on what you can and can't do and where you can and can't inject water. Until recently you could only reinjected water back into the formation it came from, to stop any contamination of other formations. In those situations however you shouldn't get any earthquakes because the pressure of the formation isn't changing. Injecting into another formation could cause earthquakes because of a rise in pressure however, although it's very much dependent on many other factors, not least how close the injection well is to a fracture.
At least that's how I understand it, as I said earlier it's not particularly my area of expertise. If I'm wrong then please correct me, I'd be interested to know.
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Gimmie some Nuclear power, thats the way forward.
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So long as they are drilling below the water table and do not screw up the encased drill hole it shouldnt be an issue that effects people locally.
More of an issue would be traffic possibly
http://frackwire.com/well-casing-failure/