how do you see the economy going in the next year or three?

Smudges Dad

Distinguished Member
It doesn't? - so Russia getting the royalties, taxes and jobs that would otherwise come to the UK does not matter - why?
Since the abolition of PRT, the UK doesn’t get any royalties from oil or gas.
 

niceguy1966

Distinguished Member
It doesn't? - so Russia getting the royalties, taxes and jobs that would otherwise come to the UK does not matter - why?
Only about 5% of UK gas consumption come from Russia.

Let's not pretend that the tweet we're discussing had any merit. It was simplistic populist nonsense like "we should train or own" or "no foreign aid while we have homeless people here".

If you're still fooling for those messages, more fool you
 

VladTheImpeller

Distinguished Member
Is that your counter argument.?..I can't find an error so I'll look at the person and trash them instead?
The assumption that more locally sourced gas is the answer. It's noticeable that there has been a number of calls for the resumption of fracking in the UK from various right wing sources
 

Smudges Dad

Distinguished Member
Correct me if I am wrong but I thought the Government got paid for licensing drilling rights in the UK - they have regular auctions of them.
You’re wrong.
I think there have only been one or two auctions in the UK, probably not since the 90s.
There are regular licensing rounds where the best technical evaluation and work programme wins the acreage but pays a license fee which is independent of oil or gas production.
Government revenue comes from taxing company profits, just like a sweet shop or cleaning service. Definitely no royalties.
 

Dorset Dog

Banned
You’re wrong.
I think there have only been one or two auctions in the UK, probably not since the 90s.
There are regular licensing rounds where the best technical evaluation and work programme wins the acreage but pays a license fee which is independent of oil or gas production.
Government revenue comes from taxing company profits, just like a sweet shop or cleaning service. Definitely no royalties.
who gets the licence fee?
 

MrsArcanum

Member
Only about 5% of UK gas consumption come from Russia.

Let's not pretend that the tweet we're discussing had any merit. It was simplistic populist nonsense like "we should train or own" or "no foreign aid while we have homeless people here".

If you're still fooling for those messages, more fool you
Problem we have, is whilst 5% may not be that much for us, when the rest are competing for supplies from everyone else the price goes up as availability goes down.
 

niceguy1966

Distinguished Member
Problem we have, is whilst 5% may not be that much for us, when the rest are competing for supplies from everyone else the price goes up as availability goes down.
Exactly, so unless we're going to produce enough to totally replace Russian production worldwide (which is impossible) being self sufficient achieves almost nothing.
 

The latest video from AVForums

Paramount + UK launch: Halo, Star Trek and Beavis, and all the latest 4K + Movie/TV News
Subscribe to our YouTube channel

Full fat HDMI teeshirts

Support AVForums with Patreon

Top Bottom