Skip to comments.The United Kingdom says “Yes!” to fracking
Posted on 12/17/2012 10:06:28 AM PST by SeekAndFind
The hydraulic fracturing, a.k.a. fracking, modern-day gold rush is quickly doing work on our global energy outlook. The improved technology and increased use of the decades-old technique has unlocked hitherto untapped reserves of oil and natural gas, bettering various countries economic opportunities by expanding domestic energy production and decreasing dependence on foreign sources. What’s more, natural gas has the potential to help the world lower their net carbon emissions, as we’ve already done in the United States.
A lot of countries and interest groups have been resistant to allowing fracking, nervous about ostensible environmental concerns, but after extensive studies the world over have failed to present any robust evidence of the many supposed horrors that radical environmental groups claim fracking can produce, a growing number of states and foreign countries are opening themselves up to the revenue, jobs, and wealth creation that other areas are already seeing as a result of the shale gas boom. Britain finally jumped on the bandwagon this past week:
Britain’s government lifted its ban on a controversial mining process known as hydraulic fracturing, or fracking, Thursday, allowing companies to continue their exploration of shale gas reserves. …
“Today’s news is a turning point for the country’s energy future. Shale gas has the potential to create jobs, generate tax revenues, reduce our reliance on imported gas, and improve our balance of payments,” chief executive Francis Egan said in a statement.
In an interview with CNN, Egan insisted that fracking could be done “safely and sensibly” in Britain and that there are huge reserves to be exploited.
The company believes there is about 200 trillion cubic feet of gas under the ground just within its license area in Lancashire. To put that figure into context, the United Kingdom uses about 3 trillion cubic feet of gas a year, Egan said.
France, for instance, is still holding out on allowing energy companies to frack in their country, but it seems like it’s only a matter of time before the undeniable economic benefits begin to outweigh the questionable environmental vagaries — after all, socialist France is shortly going to need all the economic help it can get.
Meanwhile, back here in the good old US of A, New York has once again commissioned the nth environmental impact study on the issue of fracking ( it has been studied to death for years ), even as neighboring Pennsylvania has been creating jobs fracking the Marcellus Shale for years.
England may have cheaper gas than us one day.
How many new enviromentalists can NY hire at an astronomical salary with perks....to be watchdogs and how will the frackers pay for them and how much tax money can we squeeze out of the frackers which would otherwise have gone to consumers....
Rates will go up....not down...
So Mr. Cuomo is telling NY that he would rather they suffer with higher fuel prices, less economic opportunity, and further decline in the quality of life in NY.
Perhaps he should just go ahead and suggest other States for NY’rs to move to?
LOL, Taxation will take care of that.
Been producing our own petrochemicals for decades, still the most expensive on the face of the Earth.
The secret is that even the most liberal Democrat Politicians here in Pennsylvania start having multiple orgasms once they realize how much additional revenue will come flooding into state coffers due to fracking. Lip service to the Greenies, but give me rivers of money to spend to continue growing the government.
You’re right about the $$$.
Only the states that will someday get a federal bailout (NY) can afford to ban fracking.