Experts at the UK Energy Research Centre (UKERC) have made it be known promises of lower prices were “lacking in evidence” and were “hype”.
The Whitehall Treasury Department continued with the emphasis Shale Gas and its potential was “too big to ignore”
The UKERC authored report expressed concerns of Shale Gas, which is a natural form gas extracted from rocks deep underground by machine and chemicals (fracking), was at a stage too early to conclude its viability.
They went on to further state Shale Gas was unlikely to give a noticeable difference in energy prices experienced by householders or to the security of future supplies.
Those that are in favour of fracking point to America and exclaim as the fall in energy prices in the US to where it has now become a net exporter of gas. On the reverse, critics cite the environmental damage and consequence fracking could have immediate effect now but also in years further down the line.
A spokesperson for UKERC went to condemn the Government line by saying;
“It’s extraordinary that ministers keep making these statements. They clearly want to create a narrative. But we are researchers – we deal in facts, not narratives. And at the moment there is no evidence on how shale gas will develop in the UK.’’
“Shale gas has been completely oversold. Where ministers got this rhetoric from I have absolutely no idea. It’s very misleading for the public.”
UKERC stated that they were not opposed to Shale but had issues with the language used by politicians and pro-shelling lobby groups.
UKERC acknowledges the success in the US but points to the UK having a different geology, a much smaller land mass area, and just has not persuaded people to allow drilling in their near vicinity.
The UKERC report further goes on to state if the UK is to meet its target on Climate Change Act it must end gas powered generation plants by 2030. It’s not expected that UK will produce any substantial amount of Shale Gas before 2020 leaving investors only a 10 year window in which to earn a return on their investment.
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