UK fracking ban, what do we know?
What does a UK fracking ban mean for the energy industry? Well, at the moment, not a great deal! The government have very recently announced that fracking will not be allowed to proceed within the UK.
It seems as though this has been coming for a while, especially after fracking caused an earthquake just outside of Blackpool. Two earthquakes measuring 1.05 and 1.55 on the Richter scale and lasting for less than a second each sparked protest from the local residents. This temporary ban is in direct result of the public uproar and a report from the Oil and Gas Authority. The OGA state that they cannot currently predict the probability or severeness of future earthquakes as a result of fracking.
So, it is not a complete ban but a pause on the current plans and any more sites. The work will continue if sufficient evidence is provided that the residents of the UK will not be under any danger. If extraction can be carried out safely then it is more than likely that fracking will continue within the UK.
Business and Energy Secretary Andrea Leadsom has been quoted as saying: “Whilst acknowledging the huge potential of UK shale gas to provide a bridge to a zero-carbon future, I’ve also always been clear that shale gas exploration in the UK must be carried out safely”.
This announcement continues to separate parts of the nation. In fact, 35% of people in the UK oppose fracking, 15% are in support of fracking, the rest of the UK do not have an opinion on the matter. Those opposed to fracking state that it has damaging effects on the environment and those in favour say it helps the economy and bolsters energy security. What do you think? Or do you need to know more about it?
Though there is a great deal more information on this topic, this is just a brief rundown to give you the basics. If you want all of the facts, we recommend you take a look at this article by the financial times!
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