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hissingsid
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19 hours ago, Aislinn said:

Yes, I think you are missing something.

This same argument could be made to any new drilling, fracking or other fossil fuel extraction. The Saudi's could equally say, 'oh, well, you'd just be buying the oil somewhere else anyway so really we're just providing a different source!'

The fact of the matter is that this gas which would otherwise go unextracted is now going to get extracted and the carbon released into the atmosphere which is precisely what we don't need from an environmental standpoint.

Now I am not saying I support drilling for gas in manx waters. For different reasons.

However surely your maths is wrong.

How do you work out that more gas will be released into the atmosphere. It will be the same

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On 11/22/2021 at 7:23 PM, ian rush said:

The more thats extracted the more there is on the market, typically meaning the cheaper it is, thereby slowing the necessary tip to renewables.

And if the extraction conditions/contract are set right by Govt, would mean cheaper electricity and cheaper gas for people to heat their homes? Whilst building the necessary capital to invest in those renewables? And pay off existing mua debt?

What is not to like?

Or do you have  a few hundred  million £ down the back of the sofa you can give to government to kick start the renewable investment? 

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10 hours ago, b4mbi said:

And if the extraction conditions/contract are set right by Govt, would mean cheaper electricity and cheaper gas for people to heat their homes? Whilst building the necessary capital to invest in those renewables? And pay off existing mua debt?

What is not to like?

Or do you have  a few hundred  million £ down the back of the sofa you can give to government to kick start the renewable investment? 

The pipes are not coming to the isle of man. Its not going to mean cheap gas here. Itll be royalties *if* it ever happens. 

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On 11/21/2021 at 4:40 PM, offshoremanxman said:

Fully agree it’s at no cost to us to grant a license for them to do their survey. Yet all the greenies are having a meltdown that we can’t even explore at no cost to the taxpayer what could be the biggest Treasury cash generator we have seen in 1,000 years. Totally mad. Daphne Caine wants to give her head a wobble and get off her silly bandwagon. 

I'm all for it - local gas for local people, and the surplus sold to Ireland raising substantial (c.£5bn mentioned on Mannin Line interview with the man who knows) taxes and duties for the Treasury. Not a penny to the UK, as thanks to David North and others we own the mineral rights to that bit of seabed. Would buy lots of healthcare and pothole repairs, never mind reduce the PS pension scheme defecit.

The Catch-22 here though is that Crogga will probably only spend millions on a detailed survey if they know a drilling and extraction licence will follow. The green lobby would let them do the expensive survey and THEN veto extraction because a blade of sea grass might suffer, or a crab move home.

If I was Crogga I'd need solid guarantees before I spent a penny more.

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9 minutes ago, Stu Peters said:

I'm all for it - local gas for local people, and the surplus sold to Ireland raising substantial (c.£5bn mentioned on Mannin Line interview with the man who knows) taxes and duties for the Treasury. Not a penny to the UK, as thanks to David North and others we own the mineral rights to that bit of seabed. Would buy lots of healthcare and pothole repairs, never mind reduce the PS pension scheme defecit.

I’m warming to you after disagreeing with your campaign. But fully agree if you want to line up investors to fund your surveys you need to have firm guarantees the other side that if you find something that pays off the licensing will be there. It will literally cost nothing for government to give that commitment. After all this is a government that committed £4M to the Liverpool ferry terminal that’s now into it for £50M. You’re better backing people who actually have something to lose, rather than civil servants who have nothing to lose. If this goes south the only people who really lose are Crogga shareholders.

Edited by offshoremanxman
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10 hours ago, b4mbi said:

And if the extraction conditions/contract are set right by Govt, would mean cheaper electricity and cheaper gas for people to heat their homes? Whilst building the necessary capital to invest in those renewables? And pay off existing mua debt?

What is not to like?

Or do you have  a few hundred  million £ down the back of the sofa you can give to government to kick start the renewable investment? 

Everything is to like; except the first eleven words...chances?

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I wouldnt mind them extracting providing the govt get a good deal out of it. 

 

I don't care for 'free gas' or anything like that, but a substantial windfall to pay the likes of mua debt, gov covid debt, health care and investment in renewable fuels (tidal etc). Add to that a pot (properly managed!) For capital projects, infrastructure improvements, treasury reserves it would be a huge boost to the island. Get rid of those debts, leading to more money to spend on the public 

 

No doubt gov will give a licence and get given a tenner for the thinking they've got a good deal! 

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23 minutes ago, Stu Peters said:

 

The Catch-22 here though is that Crogga will probably only spend millions on a detailed survey if they know a drilling and extraction licence will follow. The green lobby would let them do the expensive survey and THEN veto extraction because a blade of sea grass might suffer, or a crab move home.

Well all the Green Party MHKs that were elected will be a big problem...

 

Oh wait, the GMP didn't elect a single one... start those drilling rigs and let's get cracking!!

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7 hours ago, Stu Peters said:

I'm all for it - local gas for local people, and the surplus sold to Ireland raising substantial (c.£5bn mentioned on Mannin Line interview with the man who knows) taxes and duties for the Treasury. Not a penny to the UK, as thanks to David North and others we own the mineral rights to that bit of seabed. Would buy lots of healthcare and pothole repairs, never mind reduce the PS pension scheme defecit.

The Catch-22 here though is that Crogga will probably only spend millions on a detailed survey if they know a drilling and extraction licence will follow. The green lobby would let them do the expensive survey and THEN veto extraction because a blade of sea grass might suffer, or a crab move home.

If I was Crogga I'd need solid guarantees before I spent a penny more.

And where are you going to process it? Like so many in favour, you just haven't thought this through.

The biggest cost on gas and electricity is distribution, not generation / extraction.

And BTW - this is not Catch22.

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