Due to the revelation that the UK is in a serious energy crisis, homeowners are facing a significant rise in energy bills. The demand for gas and energy supplies is rising considerably and because our nation relies on imported gas the costs are set to soar. Countries like Japan are already facing a massive rise in energy bills as they rely on imported fuel and the UK are soon to follow. Therefore, steps are being taken by the Government in order to gain as much natural gas as possible.
George Osborne is standing by his decision to extract shale gas, also known as fracking, dismissing any doubts that have been brought forward. The Chancellor has stated the importance of using the shale gas due to its low cost and effectiveness. Local communities will find financial incentive as it is likely to significantly reduce energy bills. He has also told local communities who have been affected by the extraction of shale that substantial financial grants may be compensated. This will allow for the same energy consumption without putting the country in even more debt.
However, fracking has been met quite a lot of opposition. Anxiety has formed about the extraction due to earth tremors and water pollution. The process of fracking involves drilling underground. When the hole is deep enough fluid is injected at a high pressure. The high pressure will fracture the shale rocks to release any natural gas. Fracking is a common process in America with over 500,000 natural gas wells all over the country and it seems we are following suit.
Fracking companies have been met with a significant tax break, offering a worthwhile incentive to companies undertaking and investing in the work. The Energy Minister believes this is an exciting opportunity and local communities will be able to benefit from shale gas development. It will create jobs and support UK energy security, as well as being beneficial in both the short and long term. The Chancellor hasn’t yet said whether the Government or fracking companies will pay the compensation to local communities but it is likely they will have something added to their town.
Although shale seems to be a popular option in gaining natural gas, environmentalists have opposed it. They believe renewable energy is necessary to be able to fight climate change. However, despite any opposition, it seems the extraction of shale gas is going to continue with the Government committing to it. The main purpose of fracking is supposed to allow for an energy effective way for the country to use the same amount of fuel without it sending energy bills sky high.
EPCarlson is a company offering services for those on the property market. The qualified and professional team have carried out numerous surveys, with the belief that the customer’s needs are the most important. However, there have been 1,000 cases of water contamination from those who have drunk water next to where the drilling has taken place. There have also been cases of sensory, respiratory and neurological damage.