Photo Damian Kelly
ACTION OF THE DAY
A MAJOR national bank has been forced to remove more than 100 misleading out of order signs from its ATMs after being targeted by anti-coal activists.
A MAJOR national bank has been forced to remove more than 100 misleading out of order signs from its ATMs after being targeted by anti-coal activists.
A score of ANZ Banking Group machines sprawled across six capital cities were plastered with "out of order" signs on Sunday after campaigners launched their latest bid to draw attention to the bank's funding of the coal industry.
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The Bush Tucker man,said,"if you're looking for water near the coast,look behind the sand dunes."
ReplyDeleteLocals here told me,"be careful along the beaches up there,water runs out from underground and makes quicksand."
So any driller will tell you,"suck something out,something comes in to take it's place."
So suck water up from near the coast and salt water is sure to take it's place.
Sort of obvious really.
Great reading:
ReplyDeletehttp://www.theglobalmail.org/feature/the-kimberley-the-right-thing-or-ka-ching/306/
by Geoffrey Cousins.
"So which path would Woodside take? It could select a new site, it could edge away from responsibility by selling down its shareholding, or it could stand up to the government and say that the lease renewal conditions were wrong."
"Is it possible a major Australian company like Woodside would just walk away from its responsibilities in an issue such as this? It's possible because companies have tried to engineer ways to dodge difficult issues in the past, but I would like to think not here. It is increasingly unlikely that the project will proceed in the Kimberley.
The gas will be piped to the Pilbara or the
Northern Territory as logic suggests. So surely Woodside could take the initiative and lead the change. I will applaud them if they do. My main aim for 2012 is to sit across that table again from Michael Chaney and be able to say: "You're acting ethically, Michael. Congratulations.""
CAN WOODSIDE CHANGE COURSE?
Read back through the Woodside reports and the upbeat forecasts have not turned out the way they wanted.
The "Don" made the call on fracced gas and said,basically,it would not compete with conventional gas.
Even putting exports of this gas aside,the countries that will develope more of this resource will import less LNG,so there is a huge effect there.
It is creating a lot of spin both ways as the market tries to make sense of it.
BUT THIS IS NOT WHAT THE LIKES OF WOODSIDE EXPECTED TO HAPPEN.But maybe Shell saw it coming,and you can't blame them for selling down their Woodside stake.
http://www.chinadaily.com.cn/bizchina/2012-07/18/content_15594622.htm
http://www.chinadaily.com.cn/bizchina/2012-07/18/content_15594622.htm
ReplyDelete"25.1 trillion cu m of exploitable shale gas resources could meet country's gas demands for 200 years "
China is estimated to have 25.1 trillion cubic meters of exploitable shale gas resources, exceeding the 24.4 trillion cu m reserves in the United States, and making it the country with the world's biggest reserves.
If all the gas could be extracted from shale formations, the reserves would be able to meet natural gas demand in China for 200 years.
"As one of the world's top energy consumers, China plans to unlock the shale gas resources in the next few years, to reduce its dependence on imported energy."
""The US produced 4.87 trillion cubic feet of shale gas in 2010, up from virtually nothing in 2000, according to the US Energy Information Administration. The agency estimates shale gas will account for about 46 percent of US natural gas production in 2035, Reuters reported.
China, which still doesn't have any commercial production, has set an ambitious target to produce 6.5 billion cu m of shale gas by the end of 2015"
"Industry insiders believe that the reserves of unconventional gas in China may equal the totality of the reserves in the US and Canada, although more specific prospecting should be done to support the estimate," Shell's Lim said, noting it is also important to decide whether the reserved resources have commercial development values."
"Shell is gradually shifting its emphasis to natural gas, and its output surpassed oil last year," he said, adding Shell China will announce more unconventional gas projects in China within a month.
Lim said the development of Shell China projects are closely related to China's energy strategy, which has energy security as its priority.
Shell China is also cooperating with China's domestic energy giants in overseas gas and oil projects, including some prospecting projects in the Middle East that are still confidential."
And from the AFR,earlier this year:
"Unfortunately for Australia, one of its potentially biggest customers for LNG, China, could itself become a significant producer. It has enough recoverable shale gas reserves eventually to become self-sufficient, China’s Resources Ministry has said."
IT WOULD SEEM WOODSIDE NEED TO CHANGE COURSE,OR IT'S FUTURE COULD VERY WELL BE STRANDED ON THE PINDAN SANDS OF JAMES PRICE POINT.
The above article notes the US produced 4.87 trillion cu feet of shale gas in 2010.
ReplyDeleteChina target of 6.5 billion cu metres....2015.
There is 35.3146667 cu feet in a cubic mtr.
= 229.5 billion cu feet by 2015.
Woodside has also prematurely written off the USA shale gas boom.
ReplyDeletehttp://tech.fortune.cnn.com/2012/04/16/exxon-shale-gas-fracking/
"This shale gas boom has turned assumptions about the future of the U.S. and global energy picture upside down. Less than a decade ago the consensus was that America was beginning to run out of economically recoverable natural gas and that the country would need to import vast quantities of it from overseas. Now we're awash in natural gas. U.S. production has increased 28% since 2005. In 2011 about a third of that production was from shale gas, up from just 11% in 2008. By 2035, according to a study by the research firm IHS Global Insight, shale gas will account for 60% of U.S. production.
It is widely thought that the U.S. now has 100 years or more of domestic gas supply at current consumption rates. Already there has been a frenzy of exploration. The shale gas industry employed more than 600,000 workers in the U.S. in 2010, according to IHS, and by 2015 it will contribute some $118 billion to the U.S. economy. (For more on the economic ramifications of this boom, see "America's New Job Machine Is Heating Up.") Large shale deposits in South America, China, and Europe mean that it should eventually be a global trend as well. The International Energy Agency estimates that the world currently has a 250-year supply of natural gas. "In my 50 years of following the energy business, this is by far the biggest event that I've seen," says John Deutch, an MIT professor and a former CIA director who last year chaired a Department of Energy subcommittee on shale gas."
IN 2005 THE US PRODUCED LESS THAN 1 TRILLION CU FT OF SHALE GAS.
IN 2010 NEARLY 5 BILLION.
The big queestion is,how much can China expand in 5 years from 2015 to 2020?
A lot of analysts are predicting Browse at JPP will not export before 2020.
Several other countries that currently import LNG are developing their reserves.
ONE THING WOODSCUM CAN BET ON :
THE WORLD WILL NOT BE ANYTHING LIKE IT IS TODAY IN 2020!
"Even when Voelte (who in late June was appointed chief executive of Seven West Media) launches into a scurrilous and defamatory attack on an Aboriginal leader I have been meeting with, or "getting into bed with" as the good Don puts it, Chaney sits there silently. He doesn't interject; he doesn't question his CEO for describing this person as "a criminal and a drunk". He sits there."
ReplyDeleteGeofrey does not mention the name of the Aboriginal leader Voelte accuses of being a drunk and criminal and Geofrey is in bed with him.
I will not mention names either.
Perhaps Chaney and Coleman,and Voelte, should explain why they are in bed with the cultural guide on the Woodside payroll.
After all Woodside do not employ people with criminal records,unless the price is right to hop into bed with them of course.
The woman is a convicted drunk and drug addict and also has a conviction for soliciting.
She is Bergmans main allie.
Is Chaney aware that when Woodside were here first time she made part of her living selling children to the men who used the Woodside pool?
Chaney,Voelte and Coleman employ criminals to prop up their deceit and corruption,convicted or otherwise.
IN 2005 THE US PRODUCED LESS THAN 1 TRILLION CU FT OF SHALE GAS.
ReplyDeleteIN 2010 NEARLY "5 BILLION."
This should read 5 TRILLION.