Mediterranean natural gas.

[Workingman]

It has been announced that one of the world's largest natural gas fields, with 30 trillion cubic feet of gas, has been found off Egypt's coast. This news comes hot on the heels of Israel and Cyprus making huge discoveries. It seems like any hole sunk in the Med will produce gas.

So, is this a good thing or a bad thing?

Natural gas is cleaner than oil or coal. we are often told. It is, by about 2/3 and 1/2 respectively. It is almost environmentally friendly in the minds of some thanks to the hype.

However, we are using it at a greater rate than oil and coal, and the more we find the quicker we use it. By doing so we neutralise its lesser CO2 emissions and lose any environmental benefits.

Remember that when some politician tells you that the Fracking rig at the end of the road is your friend.

[cromwell]

When I was in Cyprus a couple of years since the Greek Cypriots were a bit upset because Turkey was trying to lay a claim to the gas.

[Suff]

Somewhere, some time ago I recall reading about the Messinian Events. It's probably those that created all this Oil and Gas so we should not be surprised. Perhaps more surprised that we have not found them before.

Interestingly, in the really deep water off Greece, there should be even more. But that's recovery like the DeepWater Horizon. Not the Oil industries' finest hour.

Is it right? Just to get cheap gas for which we don't have to rely on Russia???? Not a chance.

All this means, to me, is that it will be like US Fracking. The US is now totally energy independent in gas. Which means they can burn as much as they like and control the price.

Many EU countries will be tempted to meet their 2020 EU obligations with this gas. Instead of investing in technology which will allow them to meet the 2050 obligations much earlier. So, in the end, whilst an economic and financial bonanza, it will be a climate disaster. Oddly enough, we can live without money but we can't live in a climate which won't grow food.

21st century sanity!

[Workingman]

Suff, exactly where I was coming from. Discover the gas, burn it, don't worry about the cost, either monetary or environmentally.

Put research in technology to try to solve some of our current problems on the back, gas, burner. Leave everything to future generations to sort out.

[Suff]

I wonder why that totally predictable and consistent approach does not give me a warm fuzzy feeling????