Businesses in the UK Welcome the Beginning of the Fracking Bidding Process

By : Chris Tipping |September 30, 2014 |Energy Blog |0 Comment

A number of environmental groups have been lobbying against proposed fracking plans on the grounds that this gas and oil extraction method could prove to result in future damage to the areas drilled.

Fracking, the popular term for shale extraction is the process of drilling down into the earth and injecting a high-pressured jet of a water mixture directly at rock in order to extract and force upwards a significant amount of natural gas.

While the government states that fracking below homes will cause no damage and are offering a one-off payment as a goodwill for those whose home are above the fracking sites many residing in identified fracking zones as well as environmental groups continue to voice their opposition to the plans

Businesses however are starting to look at fracking in a new light with news of reduced energy bills being one of the many benefits the government claim will come from successful extraction sources this way. The US has been fracking for years and the economical benefits have been hard to ignore especially as a large number of these have directly benefitted US energy bill payers.

UK businesses have suffered greatly over the past decade with a decline in trade in many sectors and a keenly felt economic depression has forced many businesses under while causing significant damage to the success of others. Despite politicians now boasting that the UK economy has now regained its footing and has reach pre-depression levels UK business owners are continuing to be cautious and are understandably taking advantage of any scheme which looks likely to reduce their overheads, fracking included.

More UK businesses than ever before are now welcoming the beginning of the bidding which will see shale companies looking to secure the necessary licences which will allow them to explore via fracking for oil and gas reserves previously untapped.

Government marketing suggests “going all out for shale” will create local jobs, decrease the overall energy prices charged to residential and commercial customers and very important in light of recent political events ultimately decrease the EU’s dependence on fuel imports.

The Royal Institution of Chartered Surveyors in the UK member Jeremy Blackburn has been keen to point out that in order to securely deliver a long-term consistent supply of energy to the UK that fracking needs to be a part of the on-going government strategy.

He did add however that in his opinion before commencement the government needed to undertake further and extensive studies to investigate whether such an operation could, as some fear, cause future environmental damage.

With the promise of many benefits to the UK it is easy to see why many businesses have welcomed the idea of fracking in order to boost the local energy production sector and ultimately cut fuel costs on a day to day basic. It is expected that further investigations into the process, any likely future environmental implications and safeguards and limits agreed in advance will convince remaining businesses and a number of residents living in identified fracking zones who are dubious about the plans that fracking could be the answer to cutting costs and securing the UK economy for the future.

About Chris Tipping

Chris has been working with Business Save helping promote and grow their website presence.

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