Reply to: Oil at $20

[Zero Liability]

Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

Yup, hardly shocking though in this country, I guess...

[ZARDOZ]

They don't have to pass any legislation. In the UK even large landowners who have mineral rights, can't claim ownership of precious metals or hydrocarbons under their land. The latter, such as coal and gas, have been vested in the Crown since the 1930s, when they were in effect nationalised.

Government confirms plan to let fracking firms drill under homes | Environment | The Guardian

[barrydidit]

Unlike you mate, I've never appeared in The Buteman Even if your name was spelled wrong

It was a stealth operation. You ain't seen me, right?

[OwlHoot]

Re fracking. In the US the private land owner shares in the windfall. You'd expect that would also be the case in the UK? Wrong..the uk government is going to pass legislation enabling them to steal it from under the landowner. Disgusting

They don't have to pass any legislation. In the UK even large landowners who have mineral rights, can't claim ownership of precious metals or hydrocarbons under their land. The latter, such as coal and gas, have been vested in the Crown since the 1930s, when they were in effect nationalised.

[TestMangler]

Oh, was that the famous front page on The Buteman with a picture of you looking disappointed and the headline Marquis Spits not Swallows?

Unlike you mate, I've never appeared in The Buteman Even if your name was spelled wrong

[Pondlife]

Cardiff. His holiday home apparently, where he spent a whole 3 weeks per year.

There's a number of places named after him/them around cardiff. If you go to the end of Bute St you arrive at Mount Stuart Sq.

[barrydidit]

His 'main' residence is only a couple of miles from me. The current marquis spends about three weeks there a year too. House and grounds is about the size of a small city centre. Did manage to make him spit a drink once with a very poor motor racing gag

Oh, was that the famous front page on The Buteman with a picture of you looking disappointed and the headline Marquis Spits not Swallows?

[TestMangler]

Cardiff. His holiday home apparently, where he spent a whole 3 weeks per year.

His 'main' residence is only a couple of miles from me. The current marquis spends about three weeks there a year too. House and grounds is about the size of a small city centre. Did manage to make him spit a drink once with a very poor motor racing gag

[Platypus]

Last week, I was on about the dramatic fall in the oil price, down towards 50

I was talking about the various implications and the possible reasons. But I don't have a clue.


Now it looks like oil is on its way towards 20, and I am starting to get a clue.

It's starting to look like it's a deliberate attempt to wipe out the frakking industry. esp in the USA.
(apologies to those who saw this straight away)

In my Opinion - If a monopoly wants to wipe out the fledgling competition, we need to smack the monopoly, not the new players

EO, article here:
Falling Oil Price slows US Fracking

written by Steve Austin. I wondered what he was doing these days. I wonder if his bionic arm lets him type really quickly?

[Platypus]

Where ? Mount Stuart ??

Cardiff. His holiday home apparently, where he spent a whole 3 weeks per year.

[petergriffin]

Those who have the time and the brain power can read this (LONG!!):
http://www.atomcapital.co.uk/wp-cont...354AR_1114.pdf

You might not agree but what John Butler says makes sense.

[TestMangler]

Funny you should mention him, I was at his (old) house the other day. Nice place it is too. Lucky barsteward.

Where ? Mount Stuart ??

[GazCol]

It's probably a lot to do with ensuring ISIS cannot distribute oil for profit rather than any geopolitics between Saudi Arabia & Iran.

[petergriffin]

Could you talk me through that? I am not necessarily doubting you I am just curious as to how it would work.

Which one? The currency part or the oil part?

[MyUserName]

The US should be very careful at playing this game because China and Russia can, in the event of SHTF, stop using the Dollar for any commodity transaction and create a currency tied to gold (which they have in abundance) and put the US out of business.

Could you talk me through that? I am not necessarily doubting you I am just curious as to how it would work.