As has been expected, Oilexco North Sea Limited has gone into administration. Oilexco was used as a case in point in Mark Jago's Article:
Banks Risk Scottish North Sea Oil industry & Britain's Energy Future
published in this Blog on Monday the 5th. We now have to wait and see if this is the start of a domino effect and other Oil Exploration Companies and those who supply them discover their funding has dried up.
British North Sea Oil and Gas provides the United Kingdom with some level of independence in Energy Needs.
No Exploration, No Infrastructure Expansion and No Innovation, due No Funding is going to have a disastrous impact on Energy Costs and indeed stability of Supply (if Russia keeps playing Games) in the next few years, let alone in the Medium and Long Term.
As Mark said in his article:
Successive British Governments have enjoyed massive tax revenues from North Sea Oil, now is the time to put some back into to those companies working to ensure a more efficient means of maximizing existing fields and using advanced technology to exploit new resources. As the banks seem to be unwilling to invest in the future, the Government should transfer some of the money earmarked for the rumored further bank bail-out into more equitable funding of North Sea exploration.
Electricity Supply Independence by New Generation Nuclear Power Stations and significant contributions by Alternate Technologies are years away. Gas will be a primary requirement for many decades in Industrial and Consumer Applications and however much research is being done in finding suitable alternatives to oil for Vehicle use, Oil is going to be the mainstay for the foreseeable future.
So HMG get some serious money into supporting North Sea Exploration and Extraction and while your at, it starting thinking about rebuilding the Coal Industry for synthetic oil, using technology to make coal gas, appear as if it is natural gas and finally using the new technologies to build the new 'greener' coal fired power stations.
Related Posts:
5th January 2009:
Banks Risk Scottish North Sea Oil industry and Britain's Energy Future
10/11th February 2009:
Banks Continued Failure to Provide Loans makes a UK Depression Inevitable
Banks Risk Scottish North Sea Oil industry & Britain's Energy Future
published in this Blog on Monday the 5th. We now have to wait and see if this is the start of a domino effect and other Oil Exploration Companies and those who supply them discover their funding has dried up.
British North Sea Oil and Gas provides the United Kingdom with some level of independence in Energy Needs.
No Exploration, No Infrastructure Expansion and No Innovation, due No Funding is going to have a disastrous impact on Energy Costs and indeed stability of Supply (if Russia keeps playing Games) in the next few years, let alone in the Medium and Long Term.
As Mark said in his article:
Successive British Governments have enjoyed massive tax revenues from North Sea Oil, now is the time to put some back into to those companies working to ensure a more efficient means of maximizing existing fields and using advanced technology to exploit new resources. As the banks seem to be unwilling to invest in the future, the Government should transfer some of the money earmarked for the rumored further bank bail-out into more equitable funding of North Sea exploration.
Electricity Supply Independence by New Generation Nuclear Power Stations and significant contributions by Alternate Technologies are years away. Gas will be a primary requirement for many decades in Industrial and Consumer Applications and however much research is being done in finding suitable alternatives to oil for Vehicle use, Oil is going to be the mainstay for the foreseeable future.
So HMG get some serious money into supporting North Sea Exploration and Extraction and while your at, it starting thinking about rebuilding the Coal Industry for synthetic oil, using technology to make coal gas, appear as if it is natural gas and finally using the new technologies to build the new 'greener' coal fired power stations.
Related Posts:
5th January 2009:
Banks Risk Scottish North Sea Oil industry and Britain's Energy Future
10/11th February 2009:
Banks Continued Failure to Provide Loans makes a UK Depression Inevitable
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