Dr Michael Copeman
46.9K posts

Dr Michael Copeman
@drmcopeman
Cancer specialist searching the world for better therapy
Katılım Mayıs 2022
5 Takip Edilen1.3K Takipçiler

@Ed_Miliband Love the way socialists speak … “conflict in the Middle East”. No mention of the existential threat from a nuclear bomb-preparing, radical Islamist regime. Just “conflict”.
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Conflict in the Middle East has once again shown that clean power is essential for energy security.
That’s why we’re speeding up action, with solar panels to be fitted as standard on new homes and plug-in solar to be made available in shops within months.
lbc.co.uk/article/miliba…
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Dr Michael Copeman retweetledi

In light of the renewal of the debate around energy extraction, particularly Britain’s oil & gas industry, it seems appropriate to highlight several of the arguments by proponents of the Net Zero agenda against oil & gas, broken down by claim.
1) “Prices are set on international markets, so UK extraction doesn’t help”
• While there are international benchmark prices, this is misleading
• Commodity trading firms make vast sums of money trading the dislocation between regional prices, seen most clearly in 2022
• UK now imports ~50% of its gas
• Domestic production:
o reduces reliance on LNG spot markets, the most volatile segment
o lowers exposure to geopolitical shocks
• Energy imports cost the UK tens of billions per yearduring crises
• Domestic supply improves balance of payments and currency stability
2) “Private companies mean profits don’t benefit the public”
• North Sea producers face ~75% headline tax rate
• Generated ~£9–10bn in tax revenue in 2022–23 (HM Treasury / OBR)
• £350bn+ total tax receipts since the 1970s
• Supports ~200,000 UK jobs (Offshore Energies UK)
• Government retains control via:
o licensing
o taxation
o regulatory approval
3) “We shouldn’t expand fossil fuels during a climate transition”
• UK still relies heavily on gas:
o ~80% of homes heated by gas
• Cutting domestic supply does not get rid of the demand
• Imports replace production:
o LNG often has higher lifecycle emissions than domestic gas
• Gas remains essential for:
o power system backup
o heating
o fertiliser and industrial processes
4) “New extraction won’t lower consumer bills”
• It’s true that it does not directly set prices, but:
o reduces price spikes and volatility
o lowers reliance on high-cost LNG spot purchases
o reduces system risk premiums
• 2022 crisis driven by regional supply constraints, not absence of global supply
5) “Renewables and nuclear will replace gas by the time new fields come online”
• Most projections show gas still in the mix into the 2030s+ (CCC / IEA)
• Nuclear build timelines: 10–15+ years (we want these shortened, but we work with what we have)
• Renewables require:
o backup generation (currently gas)
o major grid/storage expansion
• Gas still needed for non-power uses (e.g. fertiliser)
• Other countries will likely still need to buy oil & gas. We should be able to supply it to them.
6) “We’re running out of reserves anyway”
This is entirely false.
• UK Continental Shelf estimated to hold ~5–15 billion barrels of oil equivalent remaining(NSTA) , with 2.9 billion barrels of oil equivalent proven & probable reserves.
• Falling production reflects:
o policy
o investment
o licensing constraints
Rather than any lack of resources
7) “Why more gas storage?”
• UK storage capacity:
o ~2% of annual demand
o vs 15–25% in many European countries
• Low storage → higher exposure to:
o price spikes
o supply shocks
• Reduced flexibility since closure of Rough storage facility
Gas storage serves to smooth out price volatility and contributes to security of supply.
Ultimately, it comes down to this: the Norwegians, Saudis, and Russians do not mind so much when oil & gas prices go up. They are selling the oil and gas. We could be too – and the profits would flow to British companies, British shareholders, British workers, and the British state. Why not have that instead of paying to import it our energy? We cannot let the myths overtake the narrative: let’s get rich.

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@MassDailyNews Under Boston’s veneer of civility lies a whole other society, grifting to get by.
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"Bostonian of the Year" ordered to pay back $224K she stole from her own nonprofit
massdailynews.com/2026/03/24/bos…
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He was an odd and egoistic man. But his troops adored him because he communicated to them their part in his strategy and he was careful with their lives. He was also a thorough planner—of El Alamein in 1942 and Normandy in 1944. Very flawed but still a hero.
Cdr Winter of the Antarctic@TimWinRN
@mikecosgrove45 @RevdPye @militaryhistori @KingsCanterbury @GilesMacDonogh @oldtoonloon @pirateirwin @EdnaKB2 @MargyMayell @MalcolmCGodfrey @theskibeagle @alanhinkes @NigelBiggar He would visit Westminster Abbey and quiz the choristers on his medals!😳
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@JeremiahDJohns Cunning and tenacity of rats up close must be seen to be believed. They’re very good at assessing situations for “fight or flight” possibilities. If they decide to fight, beware!
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Dr Michael Copeman retweetledi

Tories urge Olympic legend Sebastian Coe to enter race for London mayor - as new polling suggests he could run Labour's Sadiq Khan out of town trib.al/7oojD6x
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@Handre Was interesting that Buffett used to apply to the SEC for special permission NOT to notify the public when Berkshire Hathaway was in process of taking over a company. This denied others the ability to get in on the deal too, and make money. How’s that fair?
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Buffett champions his namesake rule demanding higher taxes on the wealthy while structuring his entire estate to pay zero estate tax. He's pledged 99% of his wealth to the Buffett Foundation -- which his children will control after his death.
Classic rent-seeking behavior disguised as virtue. The Oracle of Omaha gets permanent tax avoidance for his dynasty while pushing policies that crush middle-class business owners who can't afford $500/hour estate planning attorneys.
You know what small business owners face when they die? Their families sell the company to pay the IRS. But Buffett's heirs get to play philanthropic kingmaker with $130 billion in perpetuity (tax-free, naturally) while lecturing everyone else about paying their fair share.
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@10DowningStreet @Keir_Starmer Wow. Labour are really into “bread and circuses” governing mode now. The focus groups on major issues must be appalling - so a distraction is needed. Starmer’s happy to comply.
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@afneil Our daughter, as an intern, once controlled the auto cue for a breakfast TV program. She joked she could make presenters ask any question she put on the autocue - just by pausing its scrolling on that question. Boy Bands got asked all sorts of embarrassing things …
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A quite appalling question from Ed Balls. His own? Or in a brief prepared for him by some intern? Either way a terrible question.
Aɴᴛ@AntSpeaks
What Ed Balls (ironic since he has none) is basically saying on the terrorist attack in Golders Green: "Do you think this might be your fault because some of you made mean comments about Londons Muslim mayor?"
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@Steven_Swinford Surely loss of a No.10 aide’s phone is a fairly major security incident? Presume there was a gap between theft and when phone was shut down remotely. Who knows what was accessed then? Details re Mandelson? Details re Starmer?
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Exclusive:
Police did not investigate the theft of Morgan McSweeney’s phone because officers were “too busy”, despite the sensitivity of his messages and contacts
Sir Keir Starmer’s former chief of staff told the Metropolitan police that his phone was stolen as he returned home from a restaurant in central London on October 20 last year
The theft of the work device means that McSweeney’s WhatsApp messages and texts to Lord Mandelson, the former ambassador to the US, cannot be retrieved. It has led critics to question whether the phone was stolen
The State of It, the political podcast from The Times and The Sunday Times, can disclose that McSweeney told police the phone was taken by a man wearing a balaclava on an electric bike.
The man grabbed it out of his hand as McSweeney was responding to text messages and cycled off. McSweeney gave chase but was unable to keep up
Scotland Yard has a record of the incident but did not carry out any formal investigation. Officers did not speak to McSweeney directly because they were too busy. He was given a crime reference number and the case was closed
McSweeney reported the theft of his phone to No 10 and the device was shut off remotely. He was given a new device with the same number the next day.
The theft of the phone was first reported by The Sun on Sunday
thetimes.com/uk/politics/ar…
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@KobieThatcher @vonderleyen had a nanny to help bring up her seven kids.
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Dr Michael Copeman retweetledi

Between Thursday and Sunday just gone, wind’s capacity factor averaged 13 per cent.
The corresponding loss in generation compared to the same period a week previously was the same as switching off all of Britain’s nuclear power stations and cutting the undersea interconnectors to the Netherlands, Belgium, Norway, and France.
The weather did this. Not Putin, corrupt petrostates, or greedy gas companies. Not the closing of the Strait of Hormuz, either. Calm winds can befall us any time because the atmosphere is indifferent to geopolitics. Relying on wind turbines to power a modern economy is self-imposed energy insecurity.
✍️ Tim Gregory
Article | spectator.com/article/wind-p…

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@mgshanks Guess the focus group feedback on @Ed_Miliband was so bad, Labour have decided to put this guy up. Should do an intro “If you’re fed up with Red Ed, I’m here instead…”
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@JEChalmers Labor always find yet another draconian new law that, once on the statute books, will sort things out. Then a few years later another.
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@LilyDAmbrosioMP Businesses sadly are closing in Victoria, after years of Labor Govt that has little real interest in their success. Why not just admit it?
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@drmcopeman @DrCameronMurray "Most". Can you back that up with data please? #auspol #ausecon #ausbiz
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Rising global coal and gas prices will create a windfall for Aussie producers.
QLDers will get a larger cut of that windfall due to the variable royalties introduced by the previous Labor government.
Download a working paper of mine about them here:
fresheconomicthinking.com/api/v1/file/55…
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Dr Michael Copeman retweetledi

#auspol should reflect that the Greens, the Teals, two thirds of Labor, and a third of the Libs are all happy to see fossil fuels suddenly in short supply. They can’t wait for Net Zero.
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