A new report is recommending steps to maximise the economic recovery of oil and gas from the remaining reserves in the North Sea. What option closest represents your feelings on this?
A strong response to last week’s poll saw 472 readers sending us their reponses. Of these, the largest group, 31 per cent, were in favour of continuing North Sea oil production, saying that the UK’s need for the oil and gas was strong enough to justify major expenditure on its recovery. The next largest group, 25 per cent, held a diametrically opposed viewpoint, that the hydrocarbons were best left in the ground and the expenditure and expertise in offshore engineering would be better directed at renewables. The next group, 16 per cent, favoured collaboration with the other North Sea nations for a share of the oil and gas spoils; while 11 per cent thought that hydrocarbon exploration spending should be matched by carbon capture development. Only 4 per cent thought that the North Sea reserves were too played out to be worth chasing, and 13 per cent couldn’t choose between our options.
To let us know what you think of these results, please post below.
To ‘pigeon hole’ my feelings into one of the above options, over simplifies the problem. Unfortunately we live in a world where fossil fuels are in high demand. even the ‘greenest of us still use them and in high quantities, so yes try to get them, if viable. BUT also look at renewables, alternative power sources an as engineers forget socio-economic and country boundaries and work together for world betterment.
As is so often the case with multi-choice questions, no one option seems to apply. In my opinion, we are probably best to leave in the ground that which remains, for the meantime. If we can ensure future access, we should, for the moment, turn our expertise to renewables. Eventually, inevitably, as the cost of energy rises, it will become more economically viable to return and recover those remaining resources.
We are so dependant on Gas and Oil at this time so be should go ahead and extract what is left. Other parts of the World will also continue to do so for the time being and it is my guess that in another 20 – 30 years we will have another form of economical fuels.
All hydrocarbons are a finite resourse, we cannot afford to abandon the reserves. Until renewables and/or alternative energy is affordable and reliable we must have at least some of our own energy supply
Tory dash for cash, when it’s gone it’s gone. Stern showed us we have to reduce fossil fuel consumption by 80%, we should bear that in mind too.
I chose none of the above because whether the oil/gas is extracted or not depends on the market price compared to the cost of exploration and recovery – whether it is or is not profitable to extract the resources. Barring legislation to prevent it, of course. As the oil /gas price rises, marginal fields become economic to exploit