2014: Fracking Set to Reach New Heights in the UK

Well bloggers, a happy new year to you all! It is set to be a very happy new year for pro-frackers as Michael Fallon - the minister of state for Energy- announces that fracking is officially set to hit the UK; this follows the 14 month moratorium on fracking after 2 minor earthquakes occurred at the Caudrilla Resources fracking operation in Lancashire.

Figures published by the British Geological Survey (www.bgs.ac.uk/‎) reveal that in the north of England alone, approximately 40 trillion cubic meters of shale gas is trapped in deep geological formations. Indeed, the Department of Energy and Climate Change (DECC) (https://www.gov.uk/government/organisations/department-of-energy-climate-change) have stated that 100,000 square kilometres of land are available for fracking operations and could lead to the production of up to 2,880 wells. The DECC have stated that if only 10% of UK shale gas reserves are tapped, the nation could be fully powered for the next 50 years. There are other benefits of fracking, including the creation of up to 32,000 jobs and a reduction in emissions of  greenhouse gases as the transition is made from 'dirty coal' to cleaner natural gas. This is evident in the US, where carbon emissions have dropped to the lowest levels witnessed for nearly 2 decades as they have come to rely on natural gas.

Watch this video of Conservative MP, Daniel Byles discussing the future of fracking in the UK.

The advantages of fracking are no more evident than in the USA- which has taken the title of the largest producer of natural gas in the world- largely due to the fracking boom. The exponential increase in fracking has yielded huge profits and seen falling gas prices for US residents, who pay on average 1/3 of the price for gas than UK residents. The Office of Budget Responsibility (budgetresponsibility.org.uk) recently announced that the average UK fuel bill is a staggering £1,353 and is also set to rise by £100 per annum... perhaps UK based fracking could finally herald some good news for bill-payers. (http://www.theguardian.com/environment/2013/dec/19/uk-fracking-shale-gas)

Fracking has also led to further economic advantages in the US, including the creation of 2,100,000 jobs and increased industrial production due to the availability of cheaper fuel. So could the UK have similar success? (http://www.bbc.co.uk/news/business-25420552)

But what about the  plethora of environmental concerns that has so far plagued the advancement of fracking operations in the UK??  Including: induced seismic activity, reduced species diversity and depletion of water resources, amongst many others (these potential environmental concerns have been widely explored during my previous blog posts- so visit my other posts for more information).

Well, simply put, it  has been widely accepted that the threat of such environmental concerns is outweighed by the potential economic benefits. Many environmental concerns are being played down, even the Royal Academy of Engineering (www.raeng.org.uk/) has 'concluded that the health, safety and environmental risks associated with the fracking technique can be effectively managed.'

However, just one more point: Michael Fallon declined to answer if he would be happy for fracking to place in his home town...hmmmmm, very interesting!