Tag Archives: Bubble & Bust
Cash crisis for Scots driller as community resistance grows
Scotland driller Dart Energy is in the throes of a major cash crisis, an Australian stock exchange announcement today reveals. Large-scale community resistance has prevented the driller from obtaining planning permission at Airth; led by the Forth valley Against Unconventional Gas group (FAUG). Dart is now perilously close to running out of money. Dart has […]
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Tagged Bubble & Bust, Dart Energy
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Dart Energy pulls out of China for US$12m loss
Scottish Driller Dart Energy today announced the company is pulling out of operations in China – for a US$12m loss. The company is selling its stake in Fortune Oil Plc (FLG), which has extensive Coal Bed Methane (CBM) operations in China. In 2009 the company bought 35% of FLG for US$19,730,000 (see Dart’s Financial Accounts […]
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Tagged Bubble & Bust, Dart Energy
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Exploding The Fracking Hype
- Latest government fracking announcement
- Sparse on details, but plenty of hype
- Wild claims regarding vast amounts of gas
- Technical or economic aspects not addressed
- Would require 10,000 of wells to be drilled
- Industrialising vast area of countryside
- Unspecified bribes for communities
- No compensation enough for this though
- Can look to US and Australia to see impacts
- Communities getting organised to resist
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Tagged Bubble & Bust, Shale Gas, System Failure
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Browne waves willy: but can Cuadrilla progress with just one borehole?
Cuadrilla Chairman and government employee John Browne has been out in public recently. In an interview with the UK’s Guardian, the Cabinet Office non-executive said he would invest “as much as it takes” to launch shale gas in the UK. Unsurprisingly, the Fracking Czar began blowing his trumpet just as Cuadrilla entered final negotiations with […]
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Tagged Bubble & Bust, Cuadrilla, System Failure
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Driller’s share price crashes as Australia direct actions continue
Investors have taken flight from an Australian Coal Bed Methane operator as community Direct Action escalated at its site in Doubtful Creek, New South Wales. The action are ongoing – see here for details. The share price of driller Metgasco has fallen by nearly 50% since the start of the February, due to efforts of […]
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Tagged Australia, Bubble & Bust, Coal Bed Methane
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Fracking Desperate: The Scramble For Unconventional Gas
- Second Dash for Gas pushed by government
- Idea totally disconnected from reality we face
- North Sea gas production in terminal decline
- UK gone from exporter to major importer
- Competition with Asia cutting LNG imports
- Imports from Europe unlikely to grow
- Consumption now being forced down
- Gas much more scarce and expensive
- Not the time to get even more addicted
- Establishment willing gamble on shale
- Because they will be insulated from costs
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Tagged Bubble & Bust
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Cuadrilla are free to frack: Osborne’s plans on shale gas
A lot of noise has been created around George Osborne’s plans for shale gas. A detailed look, however, shows many holes and a tendency to shy away from difficult questions. This DECC document (see Chapter 5) reveals details about possible new regulation, the operation of the next oil and gas licensing round, as well as […]
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Tagged Bubble & Bust, Cuadrilla, Incompetence, System Failure
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HSBC – The Fracking Bank & Another Fracking Lord
If you thought that the fracking industry was confined to “Lancashire” you would be wrong. Behind all of the unconventional energy developments around the world you will find a trail of money put up by investors and financiers. The money flows through many hands and institutions and in some cases leads directly to the high […]
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Tagged Bubble & Bust, System Failure
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