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Gas Prices 'may Spark Recession' ......

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Guest Time 2 raise Interest Rates

Another interesting article regarding gas supplies printed in

yesterday's Daily Mail page 17.

Britain is certainly not awash with gas, says National Grid

Claims by the Government that the country is 'awash with gas'

and could survive a cold winter without harm to the economy

are a sham, it emerged yesterday.

A study by the National Grid showed there is a huge gap

of up to 70 million cubic metres between supply and demand on

a cold day.

This is equivalent to the average daily amount of gas needed to

provide heat and hot water for 12.8 million homes - or an

estimated 12 % of the nation's gas supplies during a cold winter.

The study makes it clear that the only way to bridge the gap will

be for industrial users to make savage cuts in their gas


These would trigger plant closures, thousands of lay-offs and a

three-day week for some, with resulting damage to output and

the nation's prosperity.

There are serious questions over whether firms would volunteer

such a large reduction in gas consumption.

As a result, Downing Street officials have ordered a rush

investigation into whether emergency measures will be necessary.

It's only part of the article, as it rambles on a bit, but interesting

all the same.

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