At the moment it is having to be imported by gas tankers. The US price including ocean haulage is reportedly six times what Russia was charging. If its just coming up out of the ground up the road, it's not having to be bought with foreign exchange, scarce enough with a declining economy, and the transport cost does not include long ocean voyages carried by ships that can often be in short supply. The US gas is mainly from fracking, so whether its done in the US or the UK is from that point of view, quite irrelevant.
The area where this one has its main prospect is riddled with old undocumented coal shafts as well as documented ones. Getting subsidence and wall cracks if these decide to collapse is naturally a significant risk in Lancashire, over a far greater area than any local fracking operation.
Energy in the form of good old coal was one of the main foundations of Britain's industrial supremacy for a long time. Lancashire could be a good energy source again, and the industry it might attract could turn around the fairly moribund economy and declining townscapes of the area.
If you are worried about threats, don't look down, look up. Thats where the big ones really are. Nuclear, govt stoking tensions with Russia foolishly, then comets and asteroids/meteors which arrive on average about every 5k years. The last big one arrived 4.5k centuries ago. Burckle. Just about wiped life on the planet out. With water. It hit the ocean and the tsunamis were miles high travelling at thousands of mph. Indian Ocean. When one of those arrives it won't differentiate between greenies and anyone or anything else. Pretty much back to the stone age for the few survivors, like last time. The planet has been hit about a million times. Proof? Look at the Moon.
AJL Price at posting:
1.2¢ Sentiment: None Disclosure: Held
