Friday 18 June 2010

England should lose to Algeria to secure gas supplies

Not very patriotic for our football team, but few int his country probably know about the vast Algerian Gas reserves. These are real too, not like the fantasy oil reserves in Saudi or the expensive and yet to be tested shale gas.

The prospect of shale gas has in Europe has kept gas prices in the UK low. Despite our total lack of investment in new Gas fired powerstations we are a high gas consuming nation. The LNG platform means that the UK can rely on Gas to keep help keep the lights on when we crazily switch of our Nuclear capacity.

But the UK's own dwindling supplies of gas are not enough and in future we have often been told we will need to rely on Russia for supplies. We can't bully Russia or trust it to act fairly. Luckily Algeria is much closer and has supplies that can reach Europe easily.

All we need to do is strengthen relations now and play the long game. The first step could be allowing them to progress in the World Cup. Perhaps we should lend them our goalkeeper as their's is accident prone?



Steven_L said...

"We can't bully Russia..."

Can't we get our banksters to design some dodgy derivatives to zap 'em with?

Match prediction - England win 2 - 0.

Bill Quango MP said...

We'll just have to accept we will pay a bit more for our Algerian gas after we beat them 3-0.

And put Calamity in goal too. He's our 1st choice, not too good keeper.

Nick Drew said...

a whole new world of commerce and diplomacy opens up

the going rate seems to be $20 bn per goal

(you haven't been slipping escrow accounts to referees have you ?)

roym said...

i think we'll get a hatfull. james is definitely back in, plus i can't believe im saying this but barry should strengthen he team.

back to energy, im scratching my head in amazement that sheffield forgemasters have been left out in the cold. maybe we want new nuclear stations built entirely by the japanese?

Nick Drew said...

which new nukes would those be, Roy ?

not so many in Europe, I'd suggest

CityUnslicker said...

James in goald, freeing up Green for the Algerians; it is all coming to pass.

Nick Drew said...

England are a bit tentative on this strategy ...

so - do we get half the gas ?

Sid and Doris (age 94) said...

Given the result, all the above was really just a lot of, er, hot air. Are your financial projections any nearer the mark?

rwendland said...

roym/ND: Angela Smith revealed yesterday in parliament that the Sheffield Forgemasters loan would have been at 3.5% interest (the govt projects discount rate I think).

If the whole UK nuclear industry could get money at that rate I can see how they might be able to make nucs economic! Most serious costing reports expect nuc finance to amount to around a 12% discount rate.