Fracking could see the price of gas fall
By Wells Journal | Thursday, January 03, 2013, 11:00
Tessa Munt MP's assertion that hydraulic fracturing or "fracking" should not be allowed "before we understand fully the impact of this highly controversial technique" does not stand up to any rational examination in that forms of this technology have been practised for more than 40 years and is revolutionising world gas supply potential.
In the case of the US the price of gas has fallen to one third of that in the UK. It is estimated that shale gas now supports one million jobs in the US,contributes $50 bllion in tax revenue and halves the cost of energy for both business & domestic consumers.
It is also the case that companies that had exited the US to locate abroad are now returning as reduced energy costs mitigate other disadvantageous costs which caused their exit.
Ms Munt has made clear on previous occasions that she is not in favour of nuclear power which leaves her recommendation that we should embrace renewable energy reliant on sources such as wind, tide and solar which are either intermittent, unreliable or unpredictable.
All of which are vastly more expensive than the present generating mix of coal, gas and nuclear, and a recipe for massively higher energy bills which will further damage the prospects for British industry and consequent employment and place many more domestic consumers into "fuel poverty" above the near five million already in that sad state.
Their is no prospect that the cost of renewables will remotely decline to the extent that they their subsidies can be withdrawn so that they will offer the UK competitive energy costs versus countries we must compete with in the future and because of their intermittency will always require reliable back up generating sources such as oil and gas to cover periods of low availability – if not the lights will surely go out.
E R Gamble