George Osborne announces the building of 30 new power stations and the opening up of 60% of the UK for fracking purposes and huge tax breaks for natural gas companies to begin the fracking procedure.
The 60% figure came from a report in The Independent and has been disputed by the energy department.
There has long been known that there was a coming shortfall in UK power production, most of the power stations were mothballed back in the 70's and 80's and would take at least 15 years to become operational again.
unfortunately instead of opening the old power stations again Osbourne has backed a plan to build 30 new power stations at a huge cost to the taxpayer and will take even longer.
So the UK is set to have it's water table poisoned spend money it doesn't have and make some power companies even richer at the cost of the health of the UK public.
The press is mostly backing the idea that will make their corporate owners richer, talking about job generation and billion pound revenues (as if the public would ever get any of that!)
They mostly seem to be ignoring the fact that there is still a 10-20 year gap in energy production and fracking is extremely toxic and poisons wherever it is used.
The Telegraph:
As part of today’s Autumn Statement, George Osborne is expected to approve the building of 30 gas-fired power stations, simplify the regulatory process for fracking and provide tax breaks for shale gas production in Lancashire as early as next year. This is good news for Lancashire, for the British economy, for manufacturing firms and for the global environment. To do anything else would risk economic self-harm.
As recently as 10 years ago, there was a consensus that gas was going to run out in a few decades and grow ever more expensive in the meantime. Such pessimism is now a distant memory everywhere, except perhaps in the forecasting models of the Department of Energy and Climate Change. Gas, the most abundant fossil fuel, is going to last at least a century, probably much longer.
Cheap energy is the surest way to encourage economic growth. It was cheap coal that fuelled the Industrial Revolution, enabling British workers with steam-driven machinery to be far more productive than their competitors in Asia and Europe in the 19th century. The discovery, 12 years ago, of how to use pressurised water (with less than 1 per cent kitchen-sink chemicals added), instead of exotic guar gel made from Indian beans, to crack shale and release gas has now unleashed an energy revolution almost as far-reaching as the harnessing of Newcastle’s coal.
Thanks to the shale gas revolution, the price of natural gas in the US is now one third of the price in Britain. This explains why America’s chemical companies and manufacturing firms are busy “reshoring” their operations from Europe and Asia to states like Pennsylvania, where energy is dirt cheap. America’s energy cost advantage now beats China’s labour cost advantage. In other words, if we do not treat the shale gas revolution as a huge opportunity for Britain, then it will become a dire threat to our economy: if we do not dash for cheap gas, we will lose much of what’s left of our manufacturing to countries that do.
Fortunately, the Bowland shale under Blackpool looks to be every bit as gas-rich as the best shales in North America, but even thicker. Nobody knows how much gas will be recoverable, but if it is anything like the Marcellus shale in Pennsylvania, the impact on the North West’s economy will be huge. In America, shale gas now supports a million jobs, produces nearly $50 billion in tax revenue and halves the cost of energy for businesses and people. It has revived manufacturing industry, taken market share from coal, cut energy imports and promises to revolutionise transport, as buses and trucks shift to using cheaper, cleaner methane instead of petrol.