Tag Archives: Bubble & Bust
Debunking the US Emissions Myth: It`s the Economy Stupid
- Shale being promoted as an economic miracle
- Claimed to have reduced US carbon emissions
- In reality caused by the economic crisis
- Demand drop reduced US coal and oil use
- Similar falls in UK and other countries
- Coal and oil redirected to China etc.
- Not practical for US gas so prices low
- Gas production temporarily continued to grow
- Due to variety of slow to change factors
- Cannot continue as companies loosing money
- Shale gas is expensive, dirty and short term
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Tagged Bubble & Bust, US
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Boom and Bust Rocks Dart Energy
The 2-year-old company planning 22 coal bed methane wells in Airth, Scotland already has a history of boom and bust. Only a year after Dart Energy’s $300m launch in 2010 the company was forced to write off $101.8 after the impulse purchase of a smaller gas outfit (p4) proved to be much less valuable than […]
Who owns Dart Energy?
Dart Energy plans 22 unconventional new gas wells at its site in Airth, Scotland. Yet the company planning the UK’s biggest onshore gas development has many different owners with no single controlling interest. Dart’s main shareholders are a bunch of mining companies, banks, investment funds and wealthy individuals who invest in oil and gas. The […]
The Shale Revolution: A Peek Behind The Curtain
- Shale being promoted as an economic miracle
- It is claimed to have reduced US energy prices and carbon emissions
- In reality this has all been caused by the economic crisis
- Drop in demand reduced US coal and oil consumption by 10%
- Coal and oil redirected through world market to countries like China
- No world market for gas so US gas prices dropped instead
- Shale gas production costs are way above present prices, which must rise eventually
- Exploitation of shale is a sign of desperation
- Shale will only ever provide small amounts of expensive and dangerous energy
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Tagged Bubble & Bust, Fracking (Shale and Coal Bed Methane), Shale Gas
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Shares slump at Cuadrilla owner as Aus tax bill looms
Shares in Cuadrilla part-owner AJ Lucas have slumped almost 50% after company documents revealed it had an unpaid $40m AUS tax bill. In a announcement to the Australian stock exchange AJ Lucas notes that a ‘funding shortfall’ together with a “significant reduction in cash flow … has resulted in the Company not being able to […]
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Tagged AJ Lucas, Bubble & Bust, Cuadrilla
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UK fracker unable to calculate costs or revenue
The part-owner of UK fracker Cuadrilla Resources – AJ Lucas – revealed last week it is unable to value its Lancashire drilling field. The Australian company – which owns 43% of Cuadrilla – hired PKF – a “bad debt and limited resource” consultancy – to value the UK’s favourite fracker. PKF’s report states “there is […]
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Tagged Bubble & Bust, Cuadrilla
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Fracking suspension batters Cuadrilla owner
An owner of UK fracker Cuadrilla is again facing financial difficulties as fracking operations in the UK remain on hold. AJ Lucas – who own 30% of the notorious hydraulic fracturing company – has been running out of cash for some time. Last month […]
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Tagged AJ Lucas, Bubble & Bust, Cuadrilla
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What does the announcement by IGas actually mean?
- IGas claims double previous estimate of 4.6 tcf
- Higher bound estimate for gas in place
- Actual producible gas is small fraction of this
- Probably less than a month of gas consumption
- No chance of even slowing North Sea decline
- Would require 1000’s wells to produce
- Not comparable to Polish figures
- Companies chasing investment cash with spin
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Tagged Bubble & Bust, IGas
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