UK Politics
General Discussion for politics in the UK.
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Why do companies want to fund it's extraction then?
You've hit the nail on the head, there. The gas companies are betting that demand for gas won't go away any time soon. If they're right and they have the licences to extract it, they'll still profit, even if the profits are smaller.
it's more of a political thing
reform need to be questioned on how much of these oil and gas profits are going to be handed back to the british people will it be a norway model (national fund saving for the future) or a thatcher model (resources simply handed to a private company to profit from and sold back to the british people at global rates)
They want the government to lower its taxes/fees on extraction so that more becomes just barely profitable.
Without that change, there’s only a few small places they’d be willing to drill. But if the government waives its cut suddenly they can drill somewhat more, still nothing particularly impressive though.
Of course, that means the uk gets basically no benefit, and if it’s only profitable with government generosity then it’s sure as hell not going to be profitable with a limited market (ie if we forced them to sell to the uk and actually help with the uk problems)
Tldr: they are hoping the uk are rubes they can scam.