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Lets Get Fracking!
So that nice Mr. Osborne has offered major tax concessions to energy companies in an effort to attract companies to "Frack Britain".
Good idea, do you think?
Me, I do not understand why he feels the need to offer such large tax concessions. Seems to me the energy companies would be falling over themselves to get busy with the shale gas reserves in the UK, without the need for a bribe......
And it does worry me slightly that issues to do with ground tremors and water table contamination will be swept away by hordes of oilmen drilling at whatever likely spot takes their fancy....
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Good idea, do you think?
Me, I do not understand why he feels the need to offer such large tax concessions. Seems to me the energy companies would be falling over themselves to get busy with the shale gas reserves in the UK, without the need for a bribe......
And it does worry me slightly that issues to do with ground tremors and water table contamination will be swept away by hordes of oilmen drilling at whatever likely spot takes their fancy....
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I live in the middle of the Fylde coast fracking area, we had several small tremors when they were test drilling and it was awful when they were using explosives.
We recently had some glossy brochures posted through our doors explaining how safe it all was and how great it would be for our country to exploit this resource, the brochure was promptly dumped in the recycling bin.
We recently had some glossy brochures posted through our doors explaining how safe it all was and how great it would be for our country to exploit this resource, the brochure was promptly dumped in the recycling bin.
No, TTT, thats not the problem. The problem is that the process of Fracking carries with it some serious documented risks.
And why offer such generous tax breaks? Its not as if energy companies have been saying "Oh no, Mr Osborne, none of us wish to Frack you" is it? Quite the contrary - they are falling over themselves to access these reserves - reserves which seem to go up by millions of litres almost daily.....
And why offer such generous tax breaks? Its not as if energy companies have been saying "Oh no, Mr Osborne, none of us wish to Frack you" is it? Quite the contrary - they are falling over themselves to access these reserves - reserves which seem to go up by millions of litres almost daily.....
My reaction is to agree that is there is money to be made there is no point in expecting the taxpayers to make up the loss of tax revenue to large companies having given them unnecessary concessions. Looks to be the usual, gifts to the rich & powerful friends and grab the difference from the rest of us. This sort of 'sting the citizen' type activity seems all too common.
That's before we consider the pros and cons of actually doing it.
That's before we consider the pros and cons of actually doing it.
Well we have a real impending energy gap
Nobody wants power stations of any type on their doorstep but we have to do something or we really will be back to power cuts in 10-15 years time.
Although nuclear is very carbon-green the time it takes to get them built and the riddiculous cost of them when you consider decommissioning them I can't see them coming to the rescue in a major way.
Wind turbines are good too but there's a limit to what they can generate and you can't turn them up when need is high.
We are running out of options here!
Nobody wants power stations of any type on their doorstep but we have to do something or we really will be back to power cuts in 10-15 years time.
Although nuclear is very carbon-green the time it takes to get them built and the riddiculous cost of them when you consider decommissioning them I can't see them coming to the rescue in a major way.
Wind turbines are good too but there's a limit to what they can generate and you can't turn them up when need is high.
We are running out of options here!
You might want to look at this
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It's rather sobering!
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It's rather sobering!
Perhaps a case of ransom. Centrica seem to have wielded some power (pardon the pun) over the last few years...
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I just hope that the government compensation plans for those houses and people disappearing into the earths core are well advanced.
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I just hope that the government compensation plans for those houses and people disappearing into the earths core are well advanced.
Dont worry, it is all in the North so compensation will be minimal as houses are cheaper !
If anyone has any alternatives perhaps they would like to put them forward before the lights go out. Wind is not the answer, I prefer wave but for some reason it does not seem to attract the same push as useles wind.
If anyone has any alternatives perhaps they would like to put them forward before the lights go out. Wind is not the answer, I prefer wave but for some reason it does not seem to attract the same push as useles wind.
all in the North?
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Wave energy suffers the same problem as wind energy - hard to whistle up a storm when it's half time in a cup final and everybody puts the kettle on!
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Wave energy suffers the same problem as wind energy - hard to whistle up a storm when it's half time in a cup final and everybody puts the kettle on!
I have no doubt some energy companies will be given a licence to perform fracking operations. I have no issue about that specifically, other than to note that it is risky so proper surveys and due diligence needs to be done, and homeowners and the like need compensation.
I also understand about the likely energy gap. Again, I am not against fracking simply for the sake of it. What I do not understand is why Osborne thinks it necessary to offer a 50% tax break on profits. Why so generous? It is not as no one is interested in developing these gas resources, so why is GO so keen to give away the tax payers money?
I also understand about the likely energy gap. Again, I am not against fracking simply for the sake of it. What I do not understand is why Osborne thinks it necessary to offer a 50% tax break on profits. Why so generous? It is not as no one is interested in developing these gas resources, so why is GO so keen to give away the tax payers money?
@Octavius at a 50% discount to their profit margin? Fracking is supposed to offer cheaper supplies of gas anyway. If we have to massively subsidise it through taxpayer donations then that sort of defeats the object doesn't it?
And if it requires a subsidy to access it ( not that multi-billion dollar companies should need a subsidy) That should be in the form of a grant, not a reduction in tax on profits, which can only benefit the shareholder....
And if it requires a subsidy to access it ( not that multi-billion dollar companies should need a subsidy) That should be in the form of a grant, not a reduction in tax on profits, which can only benefit the shareholder....
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