Thread: Fracking ban.
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Old 07-28-2018, 09:40 AM   #22 (permalink)
sendler
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Keep in mind that Scotland's average electricity demand is only 4 GW so this is easy to make a high percentage from rebuildables when it is connected to a reliable baseload grid from the rest of the UK. Despite having some of the best offshore wind resources in the world, several major wind projects have been canceled over the last couple years due to the ending of government feed in tariff incentives. Offshore wind does not stand on it's own in the current pricing.
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Any country that can afford to import oil ( especially USA) would be wise to quit fracking and just leave their oil in the ground for now. Money in the bank. The price of oil will be 3X (if there is still a strong enough world economy to buy it at all) in 20 years and having any to export will be very strategic. Any oil and gas that remains will be nearly invaluable to society in Northern Latitudes in 70 years. Magic stuff.
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