• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 6 hours How to Create a Pandemic
  • 59 mins KSA taking Missiles from ?
  • 4 hours There are 4 major mfg of hydroxychloroquine in the world. China, Germany, India and Israel. Germany and India are hoarding production and blocked exports to the United States. China not shipping any , don't know their policy.
  • 1 hour A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 6 mins Which producers will shut in first?
  • 40 mins TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 12 hours Trump eyes massive expulsion of suspected Chinese spies
  • 3 hours Breaking News - Strategic Strikes on Chinese Troll Farms
  • 34 mins Eight Billion Dollars Wasted on Nuclear Storage Plant
  • 12 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 15 hours Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 13 hours America’s Corona Tsar, Andrew Fauci, Concedes Covid-19 May Be Just a Bad Flu With a Fatality Rate of 0.1%

Britain Bans Fracking

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.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News