• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 3 hours Oil prices going Up? NO!
  • 13 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 12 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 18 hours Oil prices going down
  • 21 hours Could oil demand collapse rapidly? Yup, sure could.
  • 2 days Could Venezuela become a net oil importer?
  • 11 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 2 days Oil Buyers Club
  • 18 hours Saudi Arabia turns to solar
  • 5 hours Kenya Eyes 200+ Oil Wells
  • 2 days Gazprom Exports to EU Hit Record
  • 5 hours Are Electric Vehicles Really Better For The Environment?
  • 20 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 1 day Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 19 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 10 hours OPEC soap opera daily update
Is This The Biggest Fintech Opportunity Of 2018?

Is This The Biggest Fintech Opportunity Of 2018?

The global remittance market is…

Shale Shifts Attention To This ‘Forgotten’ Oil Play

Shale Shifts Attention To This ‘Forgotten’ Oil Play

As the Permian becomes overcrowded,…

UK’s Labour Party Vows To Ban Fracking If Elected

UK parliament

The UK’s opposition Labour Party will ban fracking ‘outright’ if it wins the next general elections, shadow international trade secretary Barry Gardiner said at the Labour conference on Monday.

“Fracking locks us into an energy infrastructure that is based on fossil fuels long after our country needs to have moved to renewables,” Gardiner said.

The Labour Party will be working for the UK’s low-carbon future and will support clean energy, Gardiner said, commenting on what his party would do if it comes to power.

The UK is not scheduled to hold a general election until 2020, but the country’s vote to leave the EU may lead to early elections between now and 2020.

The Labour Party’s firm opposition to fracking is in contrast with the ruling Conservative Party’s agenda. In August, Prime Minister Theresa May announced a plan to pay more shale gas proceeds to residents than originally planned. Under the new plan, the Prime Minister believes that options to share proceeds of shale should include money directly to residents, compared to previous proposals, which included money for community trusts or councils only.

Consultations on the Shale Wealth Fund proposals are open for the UK public until October 26, 2016.

Environmental activists, the Green Party, the Labour Party, and Gardiner himself have criticized the prime minister’s proposal, saying that it’s an attempt at bribing the public into accepting a shale and fossil-fuel future.

According to the UK government’s latest attitude poll from end-July 2016, the residents against fracking were 31 percent, while supporters were 21 percent. A large 48-percent share of people neither supported nor opposed fracking, primarily due to lack of knowledge.

Another much commented and criticized option for the UK’s energy future, the Hinkley Point C nuclear power plant, received prime minister May’s go-ahead just a couple of weeks ago.

By Tsvetana Paraskova 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