Trump says countries like UK can fight for their oil

It’s better to look to our long term, sustainable future than it is to throw billions at short term gain, yes, if that is the question you were asking. The current oil crisis will resolve ultimately.

Would the cost of developing the new fields exceed the possible income?

"That’s the expert view too. Enough to last for perhaps twenty - thirty years with more fields drilled, but with diminishing returns. It is not the answer for our long term fuel future."

If there are economic resources they are either exploited or wasted, why waste them. Yes we should invest in renewable and nuclear but wasting resources is unforgivable, no wonder this country is so weak.

Would it cost more to develop, than the amount we would recoup?

Well, this is the received wisdom from a large number of sources that AI collated Maremia.

Drilling more oil fields in the North Sea is generally considered not cost-effective for lowering consumer energy bills or strengthening long-term UK energy security. While it may provide tax revenue and short-term supply during price surges, the mature basin’s high extraction costs (around
$65/barrel) and global pricing mechanisms mean it cannot significantly reduce costs.
Channel 4
+5
Impact on Bills: Experts, including the Climate Change Committee (CCC), state that increased North Sea extraction will not materially affect energy prices because they are set on the global market.
Energy Security: Projections indicate that even with new drilling, the UK's dependence on imported gas will likely rise, exceeding 90% by 2050.
Production Costs: The North Sea is a mature, declining basin, making it more expensive to extract remaining resources compared to other regions.
Profitability: While potentially profitable at high oil prices (
>$70/pb), the high break-even costs create risks if prices drop.
Uplift UK
+4
While some supporters argue that new drilling keeps tax revenue within the UK—potentially offering marginal support for household bills—the consensus from environmental and energy experts is that it does not provide cost-effective energy independence.
Uplift UK
+2

I’m no expert, but to my mind it would be better to ride out the current crisis and invest more into renewables for the future (but then, as a woke leftie no doubt I would say that….)

petra

fancythat

The previously vocal posters on this forum, seem to be getting less vocal.
Is it all becoming too real?

I keep wanting to say, wakey wakey people.

There could be horrors to come. To the Uk.
And this year??

How wrong you are 😂
There’s only so long that you can try and educate people who are so misinformed.

👏👏👏👏👏👏👏👏👏👏

Casdon

Well, this is the received wisdom from a large number of sources that AI collated Maremia.

Drilling more oil fields in the North Sea is generally considered not cost-effective for lowering consumer energy bills or strengthening long-term UK energy security. While it may provide tax revenue and short-term supply during price surges, the mature basin’s high extraction costs (around
$65/barrel) and global pricing mechanisms mean it cannot significantly reduce costs.
Channel 4
+5
Impact on Bills: Experts, including the Climate Change Committee (CCC), state that increased North Sea extraction will not materially affect energy prices because they are set on the global market.
Energy Security: Projections indicate that even with new drilling, the UK's dependence on imported gas will likely rise, exceeding 90% by 2050.
Production Costs: The North Sea is a mature, declining basin, making it more expensive to extract remaining resources compared to other regions.
Profitability: While potentially profitable at high oil prices (
>$70/pb), the high break-even costs create risks if prices drop.
Uplift UK
+4
While some supporters argue that new drilling keeps tax revenue within the UK—potentially offering marginal support for household bills—the consensus from environmental and energy experts is that it does not provide cost-effective energy independence.
Uplift UK
+2

I’m no expert, but to my mind it would be better to ride out the current crisis and invest more into renewables for the future (but then, as a woke leftie no doubt I would say that….)

I utterly agree (fellow woke🤣🤣)

OldFrill

Re above for anyone interested
Relief for African economies as UK, France lead 30-nation coalition to secure transit through Strait of Hormuz | Business Insider Africa share.google/JuiPhPkwYg5nNsAzJ

👍👍🤞🤞

fancythat

And they can also work against NATO countires.
In bits or go the whole way.

I truly don’t understand what you mean ? I’d hazard a guess perhaps you don’t either?

Are you here just to stir things up? I really and truly cannot believe most of what you post - sorry

fancythat

NATO may continue to get the US funding.
And the "special relationship" may not be eroded to the point of the US fires against Uk.
Cant really see that happening any time soon.
But never say never.

Frankly, Trump can take his country’s cash and stuff it where the sun don’t shine.

If Mt Trump declares war on ANY NATO member he’d be expelled!

"Well, this is the received wisdom from a large number of sources that AI collated Maremia.

Drilling more oil fields in the North Sea is generally considered not cost-effective"

$70 a barrel was the economic point with no account that in the future it may go above that level as it has now and did when Ukraine started. The oil industry want to drill and they wouldn't do that if it wasn't economic would they

^Frankly, Trump can take his country’s cash and stuff it where the sun don’t shine.
^

You may get your wish.

The Uk may look an utterly different place in 6 months time.

Yes, in a much better place without the constant sniping and bitching from Trump.

fancythat

^Frankly, Trump can take his country’s cash and stuff it where the sun don’t shine.
^

You may get your wish.

The Uk may look an utterly different place in 6 months time.

I think you may have missed your calling.
There’s a vacancy at the end of our pier for fortune teller.
Cash only ( cross my palm with silver) 🥴
Free ride on the train to work. Only drawback is: it’s seasonal.

petra 😁

I think fancythat already has a job.

Trump is trolling us all.

he mesing with europe becasuse he owns deutchbank about 340+billion
and this www.cbsnews.com/news/donald-trump-new-york-fraud-debt-500-million/

Casdon

LovesBach

I think Trump will retire soon, and begin to write a book on statesmanship and tact.

I’ve got a title for his book:
‘ I Did It My Way Or The Highway’.
It will be a bestseller.

Couldn't think of a better one - spot on, Casdon.

Allira

Trump is trolling us all.

I think Trump has a plant on this site.

petra

Allira

Trump is trolling us all.

I think Trump has a plant on this site.

I have wondered 🤔

In the meantime, the USA is sending astronauts to the far side of the moon! 🌗
No shortage of fuel for that.

Can’t we send Trump to the far side of the moon?
Perhaps if we promise he can build a big fat ballroom there…..🧐

😁

Fly him to the moon .....

I believe that Mr Trump's plans for an earthly ballroom have hit the buffers with a legal demand to stop building.

Oh dear! He’ll have to hang his fabulous golden drapes in one of the White House’s downstairs toilets!