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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: DinoNavarre who wrote (202284)9/23/2021 4:51:11 PM
From: Elroy Jetson2 Recommendations

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DinoNavarre
Salt'n'Peppa

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UK Brexiteers went all Free-Markity with lots of no-substance natural gas competitors with no natural gas storage and without their own independent supply. Just Free-Markity purchases on the Spot Market.

Now more than 90% of the Free-Marktiy gas "suppliers" are out of business and their customers left short.
Marco Alverà, chief executive of Snam — Italy’s equivalent of the National Grid — told the Financial Times that the cold snap earlier this year had laid bare the vulnerabilities in the UK gas system. “I would hope the UK would rethink and reverse its decisions — it’s important for the whole continent,” Mr Alverà said.

“As the UK has moved from being a significant exporter of gas to a major importer, there will continue to be significant gas supply issues.”

Centrica, the parent company of British Gas, now owned by Shell, said it closed the 40-year old Rough site the UK's main gas storage facility because it had become too costly to maintain. This cut the UK’s storage capacity from 15 days of winter demand to just four to five days.

The Brexiteer Clowns at the Department for Business, Energy and Industrial Strategy (BEIS) have repeatedly said the UK can attract ample gas supplies through import pipelines and seaborne tankers of liquefied natural gas (LNG). . . . and they couldn't.
Time to either reduce UK gas demand or increase the UK's North Sea gas production. Free-Markity seltzer spritzed about is a clown-show, not a real world solution.

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