[americandream]

$this->bbcode_second_pass_quote('ROCKMAN', 'D')onlan - I'm sure when the truly serious pain of PO eventually kicks in the govt will suspend private rights just as they did during WW II for the "common good". And any viable oil/NG/coal resources will be developed. Self-preservation will demand it.

[evilgenius]

$this->bbcode_second_pass_quote('KaiserJeep', 'I') can tell: They want your money to develop this "new" and "giant" oil field.

Step one would always be an optimistic discovery announcement. Check.

Step two will be to overcome the main impediment: "But the oil is sitting under wealthy residential suburbs and protected environmental areas."

Step three would be to frack it and steam it out (or whatever tech is appropriate). It should be interesting to watch the legal shenanigans over already highly controversial extraction technologies in a country as Socialist as the UK.

[ROCKMAN]

genius - It would appear they haven't learned enough about the play to know if frac'ng will be required. But they do imply it might not. The hottest oil play on the planet in the 90's was the horizontally drilled Austin Chalk carbonate shale. And it didn't require frac'ng. But I serious doubt even non-frac'ng drilling will develop over local opposition until the situation becomes truly desperate.

[evilgenius]

$this->bbcode_second_pass_quote('ROCKMAN', 'g')enius - It would appear they haven't learned enough about the play to know if frac'ng will be required. But they do imply it might not. The hottest oil play on the planet in the 90's was the horizontally drilled Austin Chalk carbonate shale. And it didn't require frac'ng. But I serious doubt even non-frac'ng drilling will develop over local opposition until the situation becomes truly desperate.

[americandream]

$this->bbcode_second_pass_quote('evilgenius', '')$this->bbcode_second_pass_quote('ROCKMAN', 'g')enius - It would appear they haven't learned enough about the play to know if frac'ng will be required. But they do imply it might not. The hottest oil play on the planet in the 90's was the horizontally drilled Austin Chalk carbonate shale. And it didn't require frac'ng. But I serious doubt even non-frac'ng drilling will develop over local opposition until the situation becomes truly desperate.

[dolanbaker]

$this->bbcode_second_pass_quote('', 'B')earing in mind that capitalist social economy has its home in England, the English have a deep tradition of bourgeoisie liberalism. However, this also acquiesces in the national interest when called upon

[americandream]

$this->bbcode_second_pass_quote('dolanbaker', '')$this->bbcode_second_pass_quote('', 'B')earing in mind that capitalist social economy has its home in England, the English have a deep tradition of bourgeoisie liberalism. However, this also acquiesces in the national interest when called upon

[ROCKMAN]

dreamer - My 14 yo daughter drinks shallow well water every day. I wouldn't be overly concerned if frac'ng were happening nearby. OTOH I would be very concerned (read violent) if I caught a tank truck driver dumping frac fluids close to her home from a frac'd well 50 miles away. If you haven't heard it before we call such illegal dumpers "midnight haulers" since they typically do the dirty dead after midnight. Twice in my career I helped bust two of them. And that was a relatively mild response given it was done to folks I didn't know. Many oil patch hands and their families live in areas where frac fluids are hauled and many of them wouldn't hesitate to throw a few rounds in their direction if they caught a midnight hauler dumping near their home. So folks in England they should understand that just because their are no wells being frac'd close to them it doesn't mean they can't be damaged from the activity.

For a couple of years I kept explaining that to some of my Yankee cousins. Eventually they caught on and started paying closer attention to fluid disposal then those big red frac trucks.

[americandream]

Rockman

I hear you. There is a tendency to demonise all of our technical prowess simply because we havent as yet learned how to fully use it efficiently. Just as there is a tendency to wallow in sentimentality once we get an inkling that all is not well with the way we live. Energy technologies have their place, how we use them is the issue. But as a species, we are extremely fortunate to have specialists such as yourself and others at the cutting edge of our development, in our midst.

[americandream]

Rockman

I have added oil to my list of trading assets. Admittedly I trade the 15 min time frame but I dont see anything out of the ordinary in that markets structure say, in comparison to the other assets I trade.

[evilgenius]

$this->bbcode_second_pass_quote('ROCKMAN', 'd')reamer - My 14 yo daughter drinks shallow well water every day. I wouldn't be overly concerned if frac'ng were happening nearby. OTOH I would be very concerned (read violent) if I caught a tank truck driver dumping frac fluids close to her home from a frac'd well 50 miles away. If you haven't heard it before we call such illegal dumpers "midnight haulers" since they typically do the dirty dead after midnight. Twice in my career I helped bust two of them. And that was a relatively mild response given it was done to folks I didn't know. Many oil patch hands and their families live in areas where frac fluids are hauled and many of them wouldn't hesitate to throw a few rounds in their direction if they caught a midnight hauler dumping near their home. So folks in England they should understand that just because their are no wells being frac'd close to them it doesn't mean they can't be damaged from the activity.

For a couple of years I kept explaining that to some of my Yankee cousins. Eventually they caught on and started paying closer attention to fluid disposal then those big red frac trucks.

[dolanbaker]

$this->bbcode_second_pass_quote('americandream', '')$this->bbcode_second_pass_quote('dolanbaker', '')$this->bbcode_second_pass_quote('', 'B')earing in mind that capitalist social economy has its home in England, the English have a deep tradition of bourgeoisie liberalism. However, this also acquiesces in the national interest when called upon

[ROCKMAN]

"bourgeoisie liberalism": US translation: Cadillac liberals. Maybe for our EU cousins: Mercedes liberals. LOL

[Pops]

LOL, I thought of the Monterey too.

Question, who owns the mineral rights?

The way I see it, the reason the US has such an extensive oil business is of course the endowment but also the fact that individuals own the rights to whatever they are sitting on (unless of course the rights have been sold)

[dolanbaker]

In the UK (and much of Europe), the Crown (state) owns all mineral rights and "landowners" only own the surface and have no rights to anything down below.

[americandream]

$this->bbcode_second_pass_quote('dolanbaker', 'I')n the UK (and much of Europe), the Crown (state) owns all mineral rights and "landowners" only own the surface and have no rights to anything down below.

[dolanbaker]

$this->bbcode_second_pass_quote('americandream', '')$this->bbcode_second_pass_quote('dolanbaker', 'I')n the UK (and much of Europe), the Crown (state) owns all mineral rights and "landowners" only own the surface and have no rights to anything down below.

[Keith_McClary]

Oops. U.K. firm says big oil find not so big after all
$this->bbcode_second_pass_quote('', 'A') British oil exploration firm is backpedaling fast on claims that it had made a huge onshore find.
Remember that huge oil find in Britain? Turns out the company got it wrong.
Last week, a small U.K. exploration firm said up to 100 billion barrels of oil could be lying underground at a site in southern England.
Now it's moved to downplay those claims.
The firm has a license for part of the region within which the so-called "world-class potential resource" was supposed to exist.
It says more tests are needed to assess just how much oil might be there.
"Further development work in the form of appraisal drilling, well testing and assessment of recovery factors will be required to seek to quantify net resources," U.K. Oil and Gas Investments said in a statement Wednesday.
Shares in the company more than doubled after last week's news but the penny stock has since given up most of those gains.

[ROCKMAN]

"Shares in the company more than doubled after last week's news but the penny stock has since given up most of those gains." Makes one wonder how many insiders sold some of their shares last week. From what I understand the Brits aren't as regulated with insider trading a we are in the US with the SEC.

I don't invest in stocks but had I known about them doubling I might have been strongly tempted to shot them.

[vtsnowedin]

$this->bbcode_second_pass_quote('dolanbaker', '
')The US is one of the few places where land rights go down to the core and to infinity above.