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Monthly Archives: May 2017

Third Energy seeks to expand

Third Energy shares gamble

Third Energy, the fracking company that was recently dumped by Barclays, is reported to be exploring a public share offering to raise money to further its operations.  According to Laurence Kilgannon at Insider Media: “The business could raise as much as £250m to help extract the gas it has identified …

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Switzerland votes to shiver in the dark

Swiss Nuclear Power

The Swiss referendum result in favour of phasing out nuclear power has been broadly welcomed by environmental campaigners.  However, given that nuclear power accounts for more than a third of Swiss electricity generation, the decision is risky to say the least – it is on a par with Britain deciding …

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Too much green energy “musterbation”

Musterbating

The term “musterbation” – over-using the word must (or should or ought) comes from cognitive therapy.  It refers to the way mentally ill people hold themselves to wholly unrealistic beliefs about what is possible.  Such patients will often express beliefs such as, “to be a good person, I must be …

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Fracking economics spells bad news for Britain

Fracking economics

The popular narrative put out by the fracking industry (or at least that part of it that makes money selling worthless paper to fools) is that technological developments caused a dramatic fall in the cost of fracking to the point that even with oil prices (which gas prices follow) below …

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The irony that gives the lie to “green” energy

Wind powered coal mine

In a global economy that most people readily agree is unsustainable, sustainability will not be achieved by adding new energy generating technologies to the mix. “Ah,” I hear you say, “but what about countries like Germany that now produce 85 percent of their energy from renewables?” Germany is, indeed, the …

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Severe storm damage ahead

UK Storm

The Association of British Insurers (ABI) has warned its members to prepare for increasing storm damage to UK properties as global temperatures rise.  A new report conducted for the ABI by AIR Worldwide predicts that global temperature increase of just 1.5oC – which some scientists believe could happen as soon …

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What could be worse than a ban for Britain’s frackers?

Fracking unprofitable

In the (admittedly unlikely) event that Britain elects a Labour government on 8 June, one of its first acts will be to outlaw fracking.  Understandably, this has increased political opposition from the fracking industry, which will take comfort from the apparent lead that the Tory party enjoys in the polls. …

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Car finance – the next sub-prime crisis?

Car PCP

Most people think of the 2008 crash as a subprime mortgage crisis.  This is only partially true – and misleadingly so.  The real crisis was in the unregulated “shadow banking” sector where “securitised investment vehicles” (SIVs) are traded.  A SIV is created by repackaging the income from loans (including mortgages) …

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National ‘fracking college’ fails to materialise

Fracking college

Last year the government committed £80m of public funding to develop new public-private partnership “national colleges” in five key growth areas of the UK economy: High speed rail Nuclear power Digital skills Creative and cultural industries Onshore oil and gas Alongside nuclear power, the National College for Onshore Oil and …

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