SABIC Olefins 6

TheLodger said:
Incorrect, the previous energy policy has done massive damage to this country, everyone who pays for their energy will agree with that.
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My use of the word "further" in my original post shows that I believe massive damage had already been done by the previous policy. The idiotic dash to a net zero grid by 2030 & the refusal to allow exploitation of our own resources will make matters worse.

When will we be getting the £300 pound reduction in energy bills Miliband promised?
 
BoroBosco said:
My use of the word "further" in my original post shows that I believe massive damage had already been done by the previous policy. The idiotic dash to a net zero grid by 2030 & the refusal to allow exploitation of our own resources will make matters worse.

When will we be getting the £300 pound reduction in energy bills Miliband promised?
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It was promised "by the end of this Parliament" as it's only ten months in, and policies just starting, it'll take a while to build infrastructure that's required, but it'll happen.
 
TheLodger said:
It was promised "by the end of this Parliament" as it's only ten months in, and policies just starting, it'll take a while to build infrastructure that's required, but it'll happen.
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Average household bill when Labour came to power £1568, average household bill 10 months later £1849. He's not made a great start. He now needs to reduce bills by £581 to meet his pledge.
The previous policies are the cause of this and the current policies will just make it worse.

It'll take forever to build the infrastructure if Hornsea 4 is anything to go by.
 
LOL, average household bill winter before last under Tories £2254, winter gone under Labour £1849.

Statistics, easy isn't it...
 
TheLodger said:
LOL, average household bill winter before last under Tories £2254, winter gone under Labour £1849.

Statistics, easy isn't it...
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You seem to think this is some sort of tory/labour thing. Both have operated idiotic enegy policy which has resulted in high energy costs.
 
BoroBosco said:
Average household bill when Labour came to power £1568, average household bill 10 months later £1849. He's not made a great start.
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Forecast to reduce by 8% in July.
Good news or is it a "yeah, but" from you?
Look, the thread title is about the Kingdom pulling funding to complete the TIP but it's got nothing to do with energy prices. ARAMCO is one of the richest companies in the world but the project was initially paused due to questionable progress reporting and the Forecast Final Cost forever increasing.
 
I read that one of the main reasons our bills are so high is that Natural Gas is our dominant energy source, but natural gas currently and since the Ukraine War started has been a very expensive way of producing energy. I know for us the gas bill is the biggest bill and we only use it for central heating and hot water, no gas oven no gas heaters.

I also read we can only store less than 1% of the energy we produce, so when say renewables are cheap we can't store that energy produced which seems crazy to me. I also read on the whole renewable are expensive relative to fossil fuels and nuclear, but we have pushed ahead with them hence our electricity is overall expensive.

Also there is still no planning applications in place for small scale nuclear reactors we seem a way forward to me. So any energy from this source is still along way off say 2030 and beyond.

Myself I would only allow new build if it uses heat pumps and some solar. Housebuilders have had 10 years to plan for this in house and flat design and it does not need all the trappings that electric vehicles need.
 
ThatFragranceGuy said:
Is there plenty? What's the definition of plenty?
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The company I work for has installations with at least 25 years of production left. The issue is successive governments hammering production with 78% tax. These companies are worldwide so can theoretically leave Britain. Lots of well paid jobs for normal people go with them.
 
Nero said:
The company I work for has installations with at least 25 years of production left. The issue is successive governments hammering production with 78% tax. These companies are worldwide so can theoretically leave Britain. Lots of well paid jobs for normal people go with them.
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How come your company has 25 years left when forecasts say O&G 10-18 years and that's assuming maximised extraction and if factoring in diminishing returns? That's also a really poor timescale to invest in even if it was 25 years; there is literally no returns beyond that point so be a bizarre investment to be honest if returns stopped at that point and that followed a flat return curve rather than a more expected/realistic returns curve/glide path to zero

I'd also presume plenty of well paid jobs in renewables industry also exist regardless of firms exiting UK markets
 
You can argue about the timeframe but the move to renewables is necessary and we’re better off getting ahead of the curve than leaving it too late. The Tories and Labour before them should have been pushing ahead with nuclear. The battle now is getting enough grid storage in place to make the most of any renewables that do come online. Coal is done. Gas is next and prices will be much lower as a result.
 
BoroBosco said:
You seem to think this is some sort of tory/labour thing. Both have operated idiotic enegy policy which has resulted in high energy costs.
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Correct all Lodger does is reply with a sarcastic remark. Labour have increased the windfall tax since coming into power. Like someone said look at Norway. They use Oil and Gas in the North Sea to boost their economy.
 
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ThatFragranceGuy said:
How come your company has 25 years left when forecasts say O&G 10-18 years and that's assuming maximised extraction and if factoring in diminishing returns? That's also a really poor timescale to invest in even if it was 25 years; there is literally no returns beyond that point so be a bizarre investment to be honest if returns stopped at that point and that followed a flat return curve rather than a more expected/realistic returns curve/glide path to zero

I'd also presume plenty of well paid jobs in renewables industry also exist regardless of firms exiting UK markets
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I know your an expert on everything but the company i work for says there is plenty of oil to last at least another 25 years. The problem is the Labour government taxing them 78%. They are taking their investments elsewhere.
 
North22 said:
I know your an expert on everything but the company i work for says there is plenty of oil to last at least another 25 years. The problem is the Labour government taxing them 78%. They are taking their investments elsewhere.
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Love living rent free in your head 💖 25 years isn't a massive amount of time when there is plenty elsewhere that will last longer and renewables don't run out.
 
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