
A U.K. energy analyst notes that Britain is in the same place with hydraulic fracturing, or fracking, that the United States was in way back in 2001. Commercial development of the country’s tight gas resources is at least five years in the future and, perhaps, longer given the resistance to fracking that could develop.
Another British energy firm, Caudrilla, estimates that as much as 200 trillion cubic feet of gas may lie within its license area in northwest England. As much 400 trillion to 500 trillion cubic feet of natural could be present, enough to meet the United Kingdom’s needs for more than 100 years at the current consumption rate of about 3 trillion cubic feet a year.
Environmental groups like Friends of the Earth have begun arguing that fracking is both dirty and unnecessary, saying that the country should concentrate investment in renewable energy. Opposition will coalesce as exploration companies get closer to drilling, but that is likely only to slow the process, not stop it.
Are You Ahead, or Behind on Retirement? (sponsor)
If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention.
Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.