Drax Share Discussion Threads

[r9505571] 04/10/2022 20:21

On the downside, Drax Group tumbled 5.31%m after BBC Panorama claimed in an investigation aired on Monday that the company was "cutting down trees in ancient forests important for fighting climate change".

[halfpenny] 04/10/2022 12:39

Now testing 500 then 400 wot a mess and now very Risky …

[castleford tiger] 04/10/2022 08:39

Whist i agree partly with what you say it was far from conclusive.

I never believe anything given as fact without looking into the matter.
there was very little balance given just the anti biomass people.
i prefer a neutral position and balanced reporting.

Why did panorama not take the opportunity to visit the production facilities whilst in Canada.

The BBC were very much unsure on certain facts.
For example how can we be 100% the wood removed from that site was not suitable for wood products etc.

As i said i sold yesterday and i was very unhappy about the content of the program.
I look forward to the companies full report and if its as was said then i agree they should not get the green subsidy.

I am not sure where the 11% came from.
My understanding is it was 80%

tiger

[csmwssk12hu] 04/10/2022 00:06

There was no defence from watching that panorama report, they are culling forests that are thousands of years old on a grand scale, only 11% of what was going into the pellets was legally classed as renewable and they claimed £832m last year off the government in subsidies by saying it was 100%, now besides the disgraceful moral side of things that is destroying ancient rainforests that also would mean they are not entitled to 89% of that money every year. Last I checked 89% of £832m is an awful lot and it they go down the pay it back route and for the last few years they have had it

[castleford tiger] 03/10/2022 22:13

I went today and sold everything.

In their defense there was lots of maybes in the report.

However, for now I am no longer a holder.

tiger

[csmwssk12hu] 03/10/2022 20:26

These have had it tomorrow and it won’t be long till they lose those subsidies that they are claiming illegally, ceo needs to go imho dyor

[rolo7] 03/10/2022 16:34

It's the EU short of electric, UK has become net exporter now during spring summer autumn due to French nuclear power stations being off line.

[viscount1] 03/10/2022 10:56

One of my concerns when buying this share was that it would be "found out" to be not very green.

The question is what the government will do - the UK is short of electricity production right now and Drax provides reliable baseload. It seems unlikely that there would be drastic change (although the current government is sufficiently incompetent to make big mistakes).

Regulatory changes in the medium term are more likely.

[brownmruk] 03/10/2022 10:06

I think biomass has a role to play in energy production but only when it's done sensibly. This "news" has made me sell.

[geckotheglorious] 03/10/2022 09:37

Rim
Indeed.
Still cant get my head around why biomass is deemed green renewable energy. It's just burning wood after all, wood that has been shipped from USA to UK. A great distance.

[danmart2] 03/10/2022 07:33

Panaroma documentary will expose the subsidies Drax receives

[rimau1] 03/10/2022 07:21

Surprised there is no mention of the Panorama documentary here. Drax caught logging primary ancient forest in BC. Initially they deny it and then shown the evidence they u-turn arguing that its forest areas close to roads so doesn’t count and helps with wildfire management. Doh. Talk about shooting yourself in the foot, the environmental credentials of biomass are at best questionable transporting pellets transatlantic even when you argue you burn wood waste bi-product but when you are actually logging and making pellets from ancient forest the optics are dreadful.

[halfpenny] 30/9/2022 23:17

DRX……..

Now its How Low How Soon still too Risky at this level…

[halfpenny] 27/9/2022 09:25

DRAX testing 650 then 600 Luke a predictable yo-yo! Testing lows so too risky unless you short in this climate!!

[halfpenny] 01/9/2022 23:36

DRAX has broken through 650 so now 700 is the next level then its how high how soon. They must be making a fortune on current prices and demand will start increasing rapidly as winter arrives. DRAX future is now Glowing with opportunities.

[castleford tiger] 01/9/2022 08:45

And then buy or avoid?
I added 5000 yesterday.

[halfpenny] 31/8/2022 09:22

DRAX changes as predicted. You must move to market change and be ready for falls orr Rises…

[thegreatgeraldo] 30/8/2022 14:07

halfpenny24 May '22 - 13:14 - 3553 of 3654
0 1 1
If it breaks 500 the next level of support is 400. Hmmm may even test that levels as Windfall kicks everyone in the nuts!!

...Sage of North Yorkshire or complete muppet..... I'll leave it to posters to form their own opinions... ;-#)))

[viscount1] 30/8/2022 11:34

What has happened today?

[halfpenny] 30/8/2022 09:49

As i said on 17th 700 to be tested now 600 or less as we get more bad news.. DRAX at Risk due to Government Levy becoming more likely. PM candidates highlighted Nothing is absolutely off the table so I expect 700 to be tested soon. SO HOW LOW AND WHEN??

[geckotheglorious] 24/8/2022 12:54

Yes you have by making ridiculous assumptions about what I believe in!
The fundamental one, that I am a greenie Eco Warrior that colours your view of everything else I might be thinking!!!!

[castleford tiger] 24/8/2022 12:53

i think we have exhausted this discussion now.
Tiger

[geckotheglorious] 24/8/2022 10:52

Castleford Tiger
Post 3649

"Geck
Ok tell me whats green in your opinion?
Wind turbines?
Panels covering farm land?
How about burning gas to produce electricity?"

None of them are Green.


"Clearly you are part of the green brigade that's caused all these problems by stopping using fossil fuels BEFORE we had enough green energy produced and stored.
Green to me is TIDAL or HYDRO .( hydrogen for cars)"

Hahaha
Incorrect diagnosis.
I am most certainly not part of the Green brigade as I do not believe in anthropogenic global warming/climate change or whatever tripe the Left is labelling it as.

I do believe the climate is changing, but not because of man made activities.


Tidal is getting there but still youve the environmental costs and infrastructure costs of preparing the site, shipping in the materials, then building the dam.



"How can you compare EDF which is 84% owned by the state to DRX?"

Because any Govt can nationalise any company in the strategic interest. And energy provision is the lifesblood of the economy, so highly strategic surely?



"Government cannot just take a private company out.........its a very complicated and costly process"

Yes they can. It's called using force majeure/state of emergency legislation.
It might be costly but it is very doable, especially if power cuts because of serious concern.




"DRAX BURNT COAL so wood pellets made from waste is in my opinion much greener and more Eco friendly"

Deluded.
Diesel used to ship them across the Atlantic for starters. A log burner, sourcing local wood is greener than Drax operations.




"The oil used to ship ALL the wood here, is only 2% OF THE AVIATION FUEL used at Leeds airport on an annual basis"


Another Diversion.
So you DO AGREE that it isnt green then!!! But you're happy because Aviation fuel used at Leeds airport is worse!!!

Talk about moving the goal posts.

Private jets are worse. If we wanted to be serious about this alleged" man made climate change then they'd ground all private jets as they pollute even more than Leeds airport!

Does that mean Drax is Green.

Erm no.


"So i think you are being pedantic
tiger"

Nope just being factual.
Clearly, as evidenced above, you are unable to grasp such but think my comments are motivated by being a Green Eco Warrior etc.

I am anything BUT!

[castleford tiger] 24/8/2022 10:39

Geck

Ok tell me whats green in your opinion?

Wind turbines?
Panels covering farm land?

How about burning gas to produce electricity?

Clearly you are part of the green brigade that's caused all these problems by stopping using fossil fuels BEFORE we had enough green energy produced and stored.
Green to me is TIDAL or HYDRO .( hydrogen for cars)

How can you compare EDF which is 84% owned by the state to DRX?

Government cannot just take a private company out.........its a very complicated and costly process

DRAX BURNT COAL so wood pellets made from waste is in my opinion much greener and more Eco friendly.

The oil used to ship ALL the wood here, is only 2% OF THE AVIATION FUEL used at Leeds airport on an annual basis.

So i think you are being pedantic

tiger