• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 8 hours The United States produced more crude oil than any nation, at any time.
  • 1 day China deletes leaked stats showing plunging birth rate for 2023
  • 10 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Bad news for e-cars keeps coming

Britain Bans Fracking

The British government instituted an immediate moratorium on fracking after a report by the Oil and Gas Authority said the consequences of seismic activity associated with fracking are difficult to predict.

The BBC recalls fracking was suspended in August, after the only company licensed to frack, Cuadrilla, reportedly caused a quake of about 2.9 magnitude in Lancashire. Since then, the OGA has been tasked with estimating the possible effects of such seismic activity. The authority concluded that the effects of fracking on seismic activity were difficult to predict and quantify.

According to the Department for Business, Energy and Industrial Strategy, no more fracking licenses will be issued until energy companies “can reliably predict and control tremors", which effectively means the ban will be indefinite.

At the same time, Business Secretary Andrea Leadsom said the moratorium will be temporary, “until and unless” fracking is proved safe. Again, this means it will be a while before Cuadrilla or anyone else fracks a well in the UK.

The Daily Mail quoted Leadsom—a staunch supporter of fracking—as calling the ban disappointing.

“Yes, it's a disappointment but we've always been clear that we will follow the science,” she said. “We must impose this moratorium until the science changes.”

Related: The Billion Dollar Bet On An Oil Price Crash

Meanwhile, PM Boris Johnson also weighed in, saying the Conservative Party would abandon its support for fracking, saying he personally had “very considerable anxieties” about the technology. That’s after calling fracking “an answer to people’s prayers” and lashing out at critics.

Fracking has been associated with increased seismic activity in parts of the United States, notably Oklahoma. However, the link, according to the USGS, is not between the very process of fracking a well and higher likelihood of quakes. It is wastewater disposal reservoirs that have been found to have a link with increased seismic activity.

ADVERTISEMENT

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News