http://www.bbc.co.uk/news/uk-politics-35107203
MPs have voted to allow fracking for shale gas 1,200m below national parks and other protected sites.
The new regulations - which allow drilling from outside the protected areas - were approved by 298 to 261.
Opposition parties and campaigners criticised the lack of a Commons debate - and accused ministers of a U-turn as they previously pledged an outright ban on fracking in national parks.
The government said its plans would protect "our most precious landscapes".
It said the UK had "one of the best track records in the world for protecting our environment while developing our industries".
The company, nicknamed the "Gatwick gusher" after finding the oil close to Gatwick Airport in West Sussex, claims that it has managed to get "significant" amounts of oil to flow to the surface, under "minimal stimulation."
UKOG says that on Monday it managed to pump the equivalent of around 463 barrels of oil per day for just over seven hours.
That announcement has sent shares in UKOG up by as much as an enormous 77%. That may sound like an awful lot, but in monetary terms isn't all too big. Shares opened Tuesday at £1.40 ($2.03), before popping as high as £2.26 ($3.28) per share. They've settled down a little bit since that peak at around 8:00 a.m. GMT (3:00 a.m. ET) and around an hour after the open are up to £1.97 ($2.86), a gain of 41%. Here's how that spike looks:
ROCKMAN wrote:Sub – here’s the little I know. The well was completed in the Kimmeridge formation between 2,500’ and 3,000’. The Kimmeridge: Mudstones (calcareous or kerogen-rich or silty or sandy); thin siltstone and cement stone beds; locally sands and silts.
If they are telling the truth about the flow rate it would be a shock. But I’ve seen wells initially flow at hundreds of bopd drop to tens of bopd in a month. They don’t describe what they actually completed in or how the completion was designed. But given the rock type they may have caught a very local porous sand lens in the clay or caught a natural fracture. Both of which could deplete fast.
But the basic reality: an initial flow rate for a few hours will rarely indicate the long term productivity. I’m also suspicious of how little the stock jumped. If that test is truly indicative of what’s there the stock should have increased many multiples. Maybe the market knows something it isn’t sharing.
The first test is ensuring that emissions during development, production and decommissioning are “strictly limited”.
This means limiting methane emissions, banning production in areas where the land-use change would cause significant emissions, such as areas with deep peat soils, and requiring proper decommissioning of wells at the end of their lives.
“Left entirely unregulated, the emissions footprint of shale gas production could be substantial,” the report warns. And it adds that while technologies and techniques are available, the UK’s regulatory position is not yet assured, although it has potential to be world leading.
The second test is whether gas consumption can remain in line with carbon budget requirements. The CCC has already illustrated how much unabated gas can be consumed in the UK, and any usage beyond this would not be in line with the UK’s carbon budgets.
Therefore, any new sources of UK gas production must be used to displace imports, rather than increase the amount of gas that the UK consumes as a whole, the report says.
How much gas this means is largely dependent on whether carbon capture and storage (CCS) technology is widely deployed in the future.
Without CCS, gas consumption needs to drop by around 80% by 2050 compared to today’s levels, the CCC has said. This would also make it more difficult to accommodate the emissions associated with production of gas, as there would be little scope in the rest of the economy to compensate for this increase.
This relates to the third test, which is whether shale gas production emissions can be accommodated within the carbon budgets.
Domestic production of shale gas will lead to additional UK emissions, even if consumption is not affected and the process is tightly monitored, says the report.
Even if regulations are stringent, UK production could cause around 11 millions tonnes of CO2 equivalent per year in 2030, if the industry grows very quickly — more than 3% of total allowable UK emissions under the proposed fifth carbon budget. If regulations turned out to be lax, emissions would be significantly higher.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
GASMON wrote:It (terrorism) gets closer to us all, and seems to be getting more frequent.
Cog wrote:I see my original thread title rustled some jimmies. Which goes back to my original point. You invite Muslims to live in your country, provide them with all the freedom and riches your country can provide, and they end up reverting to the savages that they truly are.
Islam is not compatible with Western civilization and we kid ourselves if we believe differently. Denying the reality of what Islam is(a death cult) will not save your neck from getting chopped. Your progressive-liberalism is seen for what it is. Weakness.
Outcast_Searcher wrote:
There are some in the GOP who are racist, unfortunately. Does that make the entire GOP racist and deserving of racial hatred and liberal condemnation? I say no.
Outcast_Searcher wrote:Well, same story with Muslims.
Outcast_Searcher wrote:I know a number of Muslims casually, who run restaurants in my small city. Should we say they're terrorists or lock them up or kick them out because SOME Muslims are terrorists? Especially Muslims who have lived here peacefully all their lives and not been more criminal than normal law abiding folk?
I don't think so.
ritter wrote:@Cog--that pic is offensive and way out of line.
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