Cairn Energy is to begin drilling in Baffin Bay after being given the green light for tests from Greenland’s government. According to KNR, company ships, the Nordic and Vidar Viking, have already arrived on the scene and drilling is scheduled to start shortly.
Meanwhile, the government unveiled a new oil spill response plan, documenting how equipment and vessels prepared to tackle a spill will be stationed in southern England and Aasiaat. Local resident Peter Moller told KNR, “It’s perfectly fine that they conduct exploration drilling. But I think much of the Gulf of Mexico, because if oil is found, the risk of spills big.”
Kristoffer Petersen added, “We need money everywhere. It is said that there are huge deposits of oil, and we can all benefit from that. But we also hear about the high pollution abroad, which you cannot avoid, no matter how well you are prepared. But I know the authorities in this country are well prepared if an accident should occur.”
Cairn Energy will be drilling 300-500 metres into the seabed west of Disko Bay in an attempt to reach oil fields up to four kilometres below the surface. This compares to BP, who drilled up to 1,500 metres in Mexico for a target six kilometres underground.
The government in Greenland has said the depth of the company’s test drilling is of industry standard and that each hole must be fitted with remote-controlled closing valves. The activities will take place on two rigs while 11 ships will circulate the area on emergency call-out in the event of a spill.
The test drilling must also stop two months before the sea ice reaches Baffin Bay. There is an estimated 17 billion barrels of oil and gas in the area and as much as 50 billion barrels in Greenland as a whole.
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“I still believe that such transport of fresh water will eventually become necessary. ”
It will never be viable.
“This is why my idea must be financed as a public good and operated on a traditional cost + fixed profit pricing, instead of “what the market will bear” pricing”
When it cost 10 times more than other sources, it will never be viable.
“Do that and Greenland could easily make an honest profit and supply large amounts of water at an affordable price.”
Who the *** is going to pay 10 times more for water shipped from Greenland that say, pumped from an aquifer or desalinated from sea water? Unless you can break the laws of physics (you cannot), it will never be viable.
Nevertheless, I still believe that such transport of fresh water will eventually become necessary.
And yet desalination is a fact now and (AFAIK, please prove me wrong) large scale tranport of water is not.
If it was economically feasible, why has it not been done somewhere, even on a small scale.
That’s without even touching the issue of harvesting an unsustainable resource to allow populations to exist in places that they otherwise could not.
Peter,
I forgot about desalinization. Nevertheless, I still believe that such transport of fresh water will eventually become necessary. Your concern for the high expense is mainly due to western habits of using such sound projects to carry bad debts from other failed ventures.
This is why my idea must be financed as a public good and operated on a traditional cost + fixed profit pricing, instead of “what the market will bear” pricing. The mentality of the latter is a big reason why the macro economy is in chaos right now because such inflated pricing schemes are used to fund scams and bloated executive pay, or hide losses from failed scams. The revenues from fresh water extraction and distribution must never be shunted to subsidize budget shortfalls, weak stock markets, banker malfeasance, and other such evils. Do that and Greenland could easily make an honest profit and supply large amounts of water at an affordable price.
Jim – USA:
Sorry, I just found your comments perplexing. Were you being serious? because transporting water long distances is utter madness due to the cost. Its far cheaper to desalinate water.
So the idea goes off on a tangent after that.
I’m 49. A rather odd question to ask here. I smell a condescending comment that discredits what I’ve written; based on whether I’m old enough or not to put forth such opinions.
Jim
How old are you?
I can’t understand why Greenland isn’t developing its vast fresh water resources! Billions of gallons of fresh water just pour into the North Atlantic during the summer. Greenland could commission Norway, Russia, or whoever to develop a fleet of fresh water supertankers! How hard could it be? Just let that fresh water run to a collection lake, filter the water, pump it into the holds, and sell it to nations that are either starved for water or suffering from water contamination.
Whatever Nuuk does, KEEP THE UNITED STATES, THE U.K., THE E.U., AND THEIR RESPECTIVE ROBBER BARONS COMPLETELY OUT OF THE PICTURE! Not one dollar of financing via U.S., U.K., or E.U. banks should poison any fresh water development and distribution venture. Such a venture must be a New Deal-style public works, whose profits benefit the public treasury of Greenland and the people. A politically daring source of venture financing could come from those 3rd world countries that could use the water! Let them put together a common fund where they could be paid back in discounted water deliveries. Get technical expertise from Norway, Denmark, or anybody else (besides the U.S. and U.K.) with viable plans.
Denmark hasn’t had any reason to use its small navy for other than a hobby of the state. Those fresh water supertankers will need armed escort in certain parts of the world. I imagine that none of Denmark’s navy ships have ever fired guns in anger or defense. Denmark will have to relearn how to project power on the high seas. Something it hasn’t done in centuries.