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[Rods2]

While in the US landowners own the mineral rights, which is why the US is a world leader in gas and oil fracking technology which with high volumes of production has made the US gas price collapse.

In Europe, Governments own the mineral rights which has made the development here and on the continent a fracking hell. France and Bulgaria have banned development on environmental grounds. Anyone would think that France had a major Government owned nuclear energy sector to protect. 

The good news is that the UK probably have some of the biggest on and off shore reserves in the world, enough to potentially turn us into a Saudi Arabia.  No doubt a French inspired, German green party backed EU directive totally banning the use of this technology is being is being put together as I write this. 

You can read more here:

http://uk.reuters.com/article/2012/04/17/uk-britain-shale-reserves-idUKBRE83G0KS20120417

[STMO123]

Lord Browne, ex boss of BP, said earlier this week that the US could be self-sufficient by 2030.

[BiodieselOmega]

Lord Browne, ex boss of BP, said earlier this week that the US could be self-sufficient by 2030.

By doing what?? Rendering down the overweight population to make fuel?

[Entwood]

Lord Browne, ex boss of BP, said earlier this week that the US could be self-sufficient by 2030.

By doing what?? Rendering down the overweight population to make fuel?

read and learn ..... 

http://www.bbc.co.uk/news/business-18828714

[the alarming man]

the problem with fracking are the enviromental concerns...first and foremost earthquakes....

[Rods2]

the problem with fracking are the enviromental concerns...first and foremost earthquakes....

Apparently this occurred in the UK when they ignored a know fault line. All new operations have to now produce a plan of operations, that takes into consideration any existing fault lines to stop a repeat of this and also to make sure there is no potential gas or oil seepage problems through these faults.

[cem_devecioglu]

"Petroleum economists say that although the current all-in cost of developing offshore shale gas and oil could be as high as $200 per barrel of oil equivalent, unit costs are falling as the fracking industry in United States expands and matures."

not in the near future

"Commercially exploring offshore oil and gas in the North Sea would probably cost four or five times as much as current marginal costs of $50 to $60 required to operate at a profit," one industry expert said."

there were expensive production technologies like CO2 injection.. but these were used for test purposes only where profit is not in the game..
 

[Sir Tigger KC]

It's an interesting prospect and the British government should 'Frack' on with it! 

It's the potential to pollute ground water which worries me!    Given the prediliction of large companies to ignore such trifles in the pursuit of profit, I think that this is a real concern!! 

[tigers_gonads]

"Petroleum economists say that although the current all-in cost of developing offshore shale gas and oil could be as high as $200 per barrel of oil equivalent, unit costs are falling as the fracking industry in United States expands and matures."

not in the near future

"Commercially exploring offshore oil and gas in the North Sea would probably cost four or five times as much as current marginal costs of $50 to $60 required to operate at a profit," one industry expert said."

there were expensive production technologies like CO2 injection.. but these were used for test purposes only where profit is not in the game..

I wonder if it would be viable to use the co2 from this carbon capture technology that the greenies keep bleating on about ?
Kill 2 birds with one stone 

[Marks DTM Calib]

All this exploration is making me a very busy boy at work....here's my latest little project:



A semi sub lift ship.....the oil and gas industry is throwing money into this deep sea tech