It’s a gas…

Well it must be a gas if you are heading up an investment company that is just about to float on the AIM (Alternative Investment Market).

3Legs Resources, the company who have applied for the Cahors permit and another very large chunk of South West France, have just raised over £60 million with a share issue, thanks largely to their two experimental shale gas wells in Poland which they have sunk in partnership with ConocoPhillips.

Schiste Happens reports that the Jeffcock family stand to make a cool few million.  Looking at their track record, we can expect them to pull out and leave it to the big boys once they have taken the cream off the top.

I don’t suppose they will be investing it in a holiday home in the Lot.

On the face of it, this area is relatively unpromising for finding huge reserves of shale gas, which is no doubt why they could afford to apply for a permit for such a large area. But they are canny prospectors and will certainly be looking to make a profit from their pioneering activities here too.

And that’s what this gas business is all about for these guys, isn’t it? It’s not about clean, green energy. It’s not about paving a way for a low carbon future. It’s not even about keeping the cost of energy down, or making our use of it more efficient.  It’s all about profit.

Say NO to Shale Gas: because we don’t want 3Legs profiting from despoiling and polluting our environment.

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About bp_berry

growing, cooking, photographing, eating, protecting and celebrating
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