Andrew Evans

@7Kiwi The higher taxes is also used to help those that can’t afford the high energy costs such as low income families and critical industries

@7Kiwi What really needs to happen is raise or keep taxes the same, reducing demand and invest in energy that might actually work. Ie wind power and storage

UK 10Y borrowing costs soar over 5%. This is how debt doom loops begin. It is now urgent to cut spending and slash energy costs to get growth going.

@AndreasSteno It’s kind of understandable when you consider Qatar & Iran have 30% of global reserves- the interruption to Iranian production is unknown.

Fake news 17% of Qatars export capacity of Nat Gas which is probably like 3.5% of the global supply So much misinformation on this platform

@SharePickers So you want to just give the oil and gas away now? To what end?

There’s always going to be disagreements on how much oil & gas is in the North Sea. So why not settle the argument once and for all. Why doesn’t the government just cancel the windfall tax and let O&G companies find out? At the moment the tax is too costly for companies to even find out. Currently the government collects less than £3bn from this tax and this will be going down to near zero over time. If they allow companies to explore, not only will they find out if there are viable resources but if there is a positive outcome the government could generate a lot more revenue at a normal tax threshold. It would lower our energy costs, help economic productivity / profitability and create jobs. If there’s no viable resources the government wins the argument. It’s a win, win for them but currently their policy is a lose / lose. We lose a lot of money importing oil & gas (we spend £100bn+ importing) Our high energy cost make us uncompetitive (our energy costs is 4x of the U.S. & 8x that of China) The carbon footprint is bigger shipping this around the world The blank refusal to even explore the option makes them very unpopular It’s ironic that at the heart of exploration is entrepreneurship. It’s about weighing up the risk and reward of potential economic success. A subject this government is seemingly illiterate on. Btw it’s worth watching this video: news.sky.com/video/is-brita… @EdConwaySky @Ed_Miliband

@kevverage Yes I watched it. This was a cracker

@Aceditor you didn’t watch it?

this is not only highly informative, it’s a masterclass in data presentation 👇

@Kordell43106375 @jamesfcordiner @UniofOxford That’s gas but the oil graph is basically the same though the tail can be a bit extended by enhanced recovery (unlike gas)

@Kordell43106375 @jamesfcordiner @UniofOxford This is what the most optimistic pressure group is asking for:

'Staying the course on clean energy would not only save households three times as much money but render the UK truly energy secure for generations to come.' Maximising North Sea production would reduce bills by just £16 to £82 per year, say researchers from the Oxford Smith School ⬇️ theconversation.com/would-more-nor…

@Kordell43106375 @jamesfcordiner @UniofOxford The little bump at the bottom right. But the faster you pump it the quicker it’s gone.

@Kordell43106375 @jamesfcordiner @UniofOxford Conventional global oil production has peaked. Unconventional is keeping it flat or slightly rising. The North Sea peaked 27 years ago. It is only conventional, there may be some enhanced oil recovery one day but most likely very little because of the technical challenges

@Aceditor @jamesfcordiner @UniofOxford It’s funny because they always end up being wrong. They say we’ll run out of oil and we can’t do this or that and then we find more or find ways to get more that was thought impossible. The war in Iran is most certainly not an energy war but I fail to the point of the question.

@Kordell43106375 @jamesfcordiner @UniofOxford It’s gone. Like many other countries in the world. Look at conventional oil production in the US. That peaked in 1974 and despite subsidies it has not come back. Yes fracking did create a second (or third if you include Alaska) peak but you can’t do that here.

@Kordell43106375 @jamesfcordiner @UniofOxford No. The environment in 2000-2008 was extremely permissive yet production crashed.

@Kordell43106375 @jamesfcordiner @UniofOxford My film covered the economists vs geologist. The reality is the geologists know how much oil there is and how fast it can come out. The economists think you can just create oil forever you just need economic incentives. You call yourself Mr Imperialist. Is Iran an energy war?

@Aceditor @jamesfcordiner @UniofOxford I don’t trust you and I certainly don’t trust these supposed experts that demand the very same narrow view of the future as you either. I trust the historical wisdom that with government behaviour incentivizing a lack of economic activity in the area they tend to get it.

@Kordell43106375 @jamesfcordiner @UniofOxford Production was crashing even through 2004-2007 when prices were higher than now

@Kordell43106375 @jamesfcordiner @UniofOxford I don’t dislike the industry at all. I spent 5 years making a film about this topic and travelled the world meeting geologists and oil executives. Ask yourself why production has dropped 80% and BP and Shell have left

@Kordell43106375 @jamesfcordiner @UniofOxford Those aren’t “low range estimates” they are the 2P estimates. Yes higher prices makes more oil possible but unless $100+ is guaranteed it is not happening

@Aceditor @jamesfcordiner @UniofOxford A lowball figure there are higher range estimates and using the lowest range estimate especially in this industry is dishonest.

@Kordell43106375 @jamesfcordiner @UniofOxford It’s not a matter of content. BP and Shell left. Equinor have the technology, nearby. Producing from these fields is about as difficult as you can get.

@Aceditor @jamesfcordiner @UniofOxford There are still a sizeable amounts left across the North Sea and British waters to go for. The Norwegians are doing this in British waters now. You’re perfectly content with them doing so but not your own country? It’s ludicrous.

@Kordell43106375 @jamesfcordiner @UniofOxford This isn’t layman maths. These are the confirmed figures. You just don’t trust the geologists or the oil companies and prefer pie in the sky

@Aceditor @jamesfcordiner @UniofOxford You’re doing laymen math and simply assuming cost variables. More difficult does mean more expensive but that doesn’t mean unprofitable or entirely unusable. You’ve just said it’ll cost to much money and be unprofitable but that seems unlikely especially if state supports exist.