Tom Bawden: Good news for business - but what about the environment?

Share

The potential environmental repercussions of "fracking" for shale gas by blasting apart rock formations deep underground are clearly substantial and have yet to be satisfactorily addressed by MPs and the companies involved.

However, with household utility bills soaring, North Sea gas reserves dwindling by the day, rising global demand and concerns about energy security, the environmental case needs to be balanced against the backdrop of a struggling, hydrocarbon-hungry economy.

The business case for shale gas gathered considerable momentum yesterday as the company at the forefront gave its first estimate for the volumes that could be contained in the rocks of Britain's shale gas heartland of Lancashire.

And the estimate by Cuadrilla Resources dwarfed analysts theoretical expectations.

Omar Rahim, editor of the Energy Trader Daily, the data provider, said: "This is a game-changer that puts shale gas at the front of the energy agenda.

"This could considerably reduce the cost of gas in the UK, although probably not for about a decade because it takes a while to set up production."

Analysts estimate that it will be commercially viable to extract about a fifth of the 200 trillion cubic feet of the gas Cuadrilla estimates to be in the Bowland Shale rocks. This is nearly 10 times the potential reserves the British Geological Survey estimated for the whole of the UK and is enough to satisfy UK gas demand for 11 years, at 2009 levels.

Fracking has been made possible by the development of new technology in the US, where shale gas has revolutionised the energy industry. US households are paying 21 per cent less for their gas than they were in 2006, while in the UK gas bills have risen by more than 14 per cent in the past three months.

React Now

Latest stories from i100
Have you tried new the Independent Digital Edition apps?
iJobs Job Widget
iJobs General

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...

Guru Careers: Software Developer / Web Developer

£30 - 40k + Benefits: Guru Careers: A Software / Web Developer (PHP / MYSQL) i...

Guru Careers: Account Executive

£18 - 20k + Benefits: Guru Careers: An Account Executive is needed to join one...

Guru Careers: Software Developer / Software Engineer

£35 - 40k + Benefits: Guru Careers: A Software Developer / Software Engineer i...

Day In a Page

Sepp Blatter and Vladimir Putin. Was Russia awarded the 2018 World Cup unfairly?  

Fifa arrests: Is it the final whistle for corruption in world football?

Mary Dejevsky
Blundering Tony Blair quits as Middle East peace envoy – only Israel will miss him

Blundering Blair quits as Middle East peace envoy – only Israel will miss him

For Arabs – and for Britons who lost their loved ones in his shambolic war in Iraq – his appointment was an insult, says Robert Fisk
Fifa corruption arrests: All hail the Feds for riding to football's rescue

Fifa corruption arrests

All hail the Feds for riding to football's rescue, says Ian Herbert
Isis in Syria: The Kurdish enclave still resisting the tyranny of President Assad and militant fighters

The Kurdish enclave still resisting the tyranny of Assad and Isis

In Syrian Kurdish cantons along the Turkish border, the progressive aims of the 2011 uprising are being enacted despite the war. Patrick Cockburn returns to Amuda
How I survived Cambodia's Killing Fields: Acclaimed surgeon SreyRam Kuy celebrates her mother's determination to escape the US

How I survived Cambodia's Killing Fields

Acclaimed surgeon SreyRam Kuy celebrates her mother's determination to escape to the US
Stephen Mangan interview: From posh buffoon to pregnant dad, the actor has quite a range

How Stephen Mangan got his range

Posh buffoon, hapless writer, pregnant dad - Mangan is certainly a versatile actor
The ZX Spectrum has been crowd-funded back into play - with some 21st-century tweaks

The ZX Spectrum is back

The ZX Spectrum was the original - and for some players, still the best. David Crookes meets the fans who've kept the games' flames lit
Grace of Monaco film panned: even the screenwriter pours scorn on biopic starring Nicole Kidman

Even the screenwriter pours scorn on Grace of Monaco biopic

The critics had a field day after last year's premiere, but the savaging goes on
Menstrual Hygiene Day: The strange ideas people used to believe about periods

Menstrual Hygiene Day: The strange ideas people once had about periods

If one was missed, vomiting blood was seen as a viable alternative
The best work perks: From free travel cards to making dreams come true (really)

The quirks of work perks

From free travel cards to making dreams come true (really)
Is bridge the latest twee pastime to get hip?

Is bridge becoming hip?

The number of young players has trebled in the past year. Gillian Orr discovers if this old game has new tricks
Long author-lists on research papers are threatening the academic work system

The rise of 'hyperauthorship'

Now that academic papers are written by thousands (yes, thousands) of contributors, it's getting hard to tell workers from shirkers
The rise of Lego Clubs: How toys are helping children struggling with social interaction to build better relationships

The rise of Lego Clubs

How toys are helping children struggling with social interaction to build better relationships
5 best running glasses

On your marks: 5 best running glasses

Whether you’re pounding pavements, parks or hill passes, keep your eyes protected in all weathers
Joe Root: 'Ben Stokes gives everything – he’s rubbing off on us all'

'Ben Stokes gives everything – he’s rubbing off on us all'

Joe Root says the England dressing room is a happy place again – and Stokes is the catalyst
Raif Badawi: Wife pleads for fresh EU help as Saudi blogger's health worsens

Please save my husband

As the health of blogger Raif Badawi worsens in prison, his wife urges EU governments to put pressure on the Saudi Arabian royal family to allow her husband to join his family in Canada