Enough shale gas to change UK energy balance, says IGas UK shale gas explorer … IGas says its licence area in northwest England could hold enough gas to meet the country's entire consumption for over five years, dwarfing a previous forecast and national proven reserves. IGas chief Andrew Austin said only some of the vast shale gas reserves would be recoverable but still had the potential to change the country's energy balance. – UK Telegraph
Dominant Social Theme: There is not enough oil and gas and the world will have to recycle and live with diminished expectations.
Free-Market Analysis: First the US; now Britain. We've run a number of articles now on the shale oil and gas technology, which has apparently changed the calculations around oil and gas availability.
For over a decade in various configurations we've pointed out that scarcity promotions such as Peak Oil are part of a larger presentation of scarcity memes.
These memes are designed to frighten middle classes into giving up power and control to specially designed international institutions such as the UN, IMF, World Bank, etc. that are controlled by those with globalist mentalities.
The idea obviously is to create ever stronger globalist institutions but in this Internet era that's hard to do. Many of these memes have been exposed and the idea that humans are suffering from imminent scarcity is debunked in a variety of ways.
Global warming, food and water scarcity, overpopulation … are all presented as insurmountable problems but when they are analyzed clinically and in detail, they seem far less persuasive.
The Internet has allowed many to investigate these verities in detail and the results have tended to undermine the fear and concern that these dominant social themes initially generated.
The company said on Monday that technical studies now point to an estimated range of 15.1 to 172.3 trillion cubic feet of gas in place at its licence areas which sit between Liverpool and Manchester in northwest England, with a most likely estimate of 102 trillion cubic feet. It had previously forecast over 9 trillion cubic feet. Andrew Austin, chief executive, said that only some of the gas would be recoverable from the area but nonetheless the potential volumes could change Britain's energy balance.
"We (Britain) import around 1.5 trillion cubic feet, we consume around 3 trillion cubic feet a year, assuming you could recover technically something like 10pc to 15pc of the shale gas in place, then it could move import dependency out for about 10 to 15 years," he told the BBC. Britain expects to issue an upward revised estimate of its shale gas resources this summer.
Drilling is planned for later this year, which would refine the estimates and the potential of the basin, the company said. Analysts at Jefferies said that while the estimate range was large, the most likely forecast of about 100 trillion cubic feet showed the significance of the licence, both relative to IGas's resource base and the UK's existing gas reserves.
Suddenly, there is shale oil and gas. We are told the extraction techniques have improved but, in fact, the technology to extract shale oil and gas has been around for at least a half-century.
Such sudden improvements in technology at least raise the suspicion that the rate of extraction is controlled and monitored by those in the industry who are trying manage demand for their own purposes.
Further, it seems that these players label their products in ways that imply they are indeed precious and diminishing, yet "rare earth" is found in abundance outside of China and so-called fossil fuels are evidently abundant, as well, as we are now seeing.
It is, in fact, possible that those involved have other reasons to expand the supplies of oil and gas. Given that the dollar is supported by energy scarcity and Saudi Arabia's demand for oil in exchange for dollars, it could be concluded that he expansion of oil and gas supplies is undermining the dollar.
If one accepts that one apparent globalist plan is to diminish the value of the dollar as a reserve currency in order to create an international currency, then the advance of energy supplies around the world makes sense as a dollar "harmonizer."
Seen from this perspective, various scarcity memes and economic and currency conditions are all part of the same syndrome of globalist control.
It sounds like an absurdly large system and yet our analysis throughout the years brings us to this sort of conclusion again and again. Those who control central banking control many of the larger elements of society and economics.
Such control is exercised in a variety of ways that is both evident and hidden.