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Page added on April 27, 2014

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Fracking Is the Future

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Fracking

Fracking is the future according to Lord John Browne, the former chief executive for BP. He is known as the fracking czar due to his enthusiasm to bring the process to Great Britain.

Hydraulic fracturing, known as fracking, uses a combination of water, sand, and chemicals to separate shale from natural gas and oil. Lord Browne wants to take fracking to a new level in Great Britain.

According to the British Geological Survey, the Bowland-Hodder formation in England’s midsection contains shale deposits with more than 1,300 trillion cubic meters. Within that shale are deposits of oil and natural gas. With fracking, Great Britain will have enough oil and natural gas for 40 years.

He believes fracking is a secure domestic energy source that will create a plethora of new jobs and generate billions in tax revenue. Lord Browne considers fracking a better alternative to constructing nuclear plants and importing natural gas with the potential of transforming the entire country.

Besides being a director in the British government’s Cabinet Office, Lord Browne currently holds the position of chairman of Cuadrilla Resources, a company ready to drill wells in the Bowland-Hodder formation. Later in the year, the British government will issue oil and gas exploration licenses to drill wells in England, Wales, and Scotland.

Lord Browne is also a board member with Riverstone, a private-equity firm that has invested $27 billion into energy companies. In 2010, Riverstone spent $58 million to acquire a 41 percent stake in Cuadrilla.

Lord Browne has spent the better part of his life working with oil. He earned a degree in physics from the University of Cambridge in 1969. After graduating, he joined BP as a field engineer and helped developed Alaska’s North Slope. For the next 25 years, he managed exploration and production projects in the North Sea and Gulf of Mexico. For his work in the oil industry Queen Elizabeth II knighted him in 2001 making him Lord Browne of Madingley.

Michael Fallon, Britain’s Energy Minister said that one way or another shale gas production is coming. It would be more beneficial if that production comes from domestic sources than from imports.

Fadel Gheit, an oil industry analyst at Oppenheimer, said environmentalists should approve of natural gas exploration. Composed mostly of methane, natural gas emits half the carbon dioxide of coal. Gheit believes Lord Browne has taken the right course. Fracking will transform the future of energy. Europeans will have to accept shale extractions as necessary for domestic development.

Matthew Spencer, director of Green Alliance, contends burning more natural gas would limit attempts to alter climate change along environmental lines. If the development of natural gas does not come with constraints, fracking will be disastrous.

Another problem is that British landowners do not own the mineral, oil, and gas rights beneath their property. The British Crown does. That means companies such as Cadrilla cannot win local support by paying royalties for drilling rights.

For Lord Browne, domestic fracking is better working in unfamiliar territories with unstable governments. He is confident of being able to deal with the stringent rules offered by the British government and the EU that will make fracking Great Britain’s future.

By Brian T. Yates

liberty voice



13 Comments on "Fracking Is the Future"

  1. Luck on Sun, 27th Apr 2014 9:42 am 

    “Composed of methane, natural gas emits half the carbon dioxide as coal”
    Fracking will have escape lots of methane during drilling and exploration. Methane is a 40 times more potent greenhouse gas as carbondioxide. So eventually ending up with the holy fracking grail to be even more detrimental for the climate than the once beloved dirty coal. Nice fossil industry propagandist lobby in the UK.

  2. Makati1 on Sun, 27th Apr 2014 9:59 am 

    The UK is joined at the hip with the US. Both are sliding down the economic/financial slippery slope to the 3rd world. They like to pretend otherwise, but…

  3. Davey on Sun, 27th Apr 2014 10:20 am 

    Yea Mak, when uk/us are third world god forbid what the third world will be with there vast mega city slums, environmental collapse, and social unrest. I see famines, food riots, and large scale migrations. I feel for Europe during this time.

  4. Plantagenet on Sun, 27th Apr 2014 10:37 am 

    People who don’t like fracking should stop using oil produced by fracking or forever have the word “hypocrite” stenciled across their foreheads.

  5. Ham on Sun, 27th Apr 2014 12:06 pm 

    Really? That sounds nasty and vitriolic. Oil as a religion.
    The truth is that wasting vast amounts of water, energy and money is a fools paradise to get peanuts. Constant drilling = delusion of plenty.
    The UK will eventually decide just like US that having ruined landscapes, vast overuse of water with additional toxic chemicals poured underground is a Faustian bargain and it will end in tears.

  6. Northwest Resident on Sun, 27th Apr 2014 2:17 pm 

    It is hard to believe that fracking is the future for Great Britain when they haven’t even started operations yet and therefore really don’t have any idea what kind of production they are going to get. For somebody in a lordly position as this English nobleman seems to be, I can understand his desire to maintain his lofty position at the expense of all the commoners who will have to live with the noise, the ravaged landscape and the pollution. Anyway, if “the future” is fracking, then it is going to be a very short-lived future. We can’t run the global economy on fracked oil, that much is certain. Fracking amounts to nothing more than buying time, extending the ultimate demise of BAU a little longer, at a terrible expense to the environment.

  7. shortonoil on Sun, 27th Apr 2014 2:45 pm 

    It is fortunate that fracking pioneer Caudrilla Resources has been able to elicit the guidance of EX BP CEO Lord Browne; the personal friend of the UK Chancellor. In December 2012 the Chancellor announced a strategy for putting in place 37 gigawatts of new gas fired plants that would be built if parliament could be convinced to roll back mid 2020s carbon targets.

    Caudrilla had previously announced the largest find of tight gas any where in the world outside of China. That discovery was made after drilling just two wells under Lancashire. The drilling was put on hold when their first well triggered an earth tremor that subsequently shut the project down until a safety review could be conducted. To fully develop their find, Caudrilla will have to drill eight holes per square mile, for a total of several thousand wells. The Chancellor had previously announced that he would see that generous subsidies were given to gas companies so they could frack their way to the cheap gas under Britain.

    http://www.thehillsgroup.org

  8. rockman on Sun, 27th Apr 2014 4:42 pm 

    Ham – So I take it you don’t use oil/NG or products made from them and thus aren’t part of the population financing such efforts? IOW no one is “wasting vast amounts of water, energy and money” for your benefit.

  9. Makati1 on Sun, 27th Apr 2014 7:01 pm 

    Davey, here in the Philippines, most of the city dwellers will just go home to the provinces when they have family lands. Over half of Manila goes home, out of the city, every night. Only the upper 10% live there. They may be disadvantaged when the collapse happens, but most of them also have family lands.

    Yes, the few cities here will be mostly abandoned when they cannot function, as they will all over the world. Where are the millions in the US going to go? Most of them have nowhere else. THEY will be the ones living in slums and ruled by gangs or roaming the countryside looking for farms to plunder.

  10. Newfie on Sun, 27th Apr 2014 7:05 pm 

    Lord Brown. LOL. Lord of what ? Delusions ?

  11. Davy, Hermann, MO on Sun, 27th Apr 2014 7:50 pm 

    OK
    Makster, here are the numbers your home:
    Philippians area 115,831 square miles and 96.7MIL people on land that has been pillaged by overpopulation and ecological destruction.
    Makster, my numbers:
    Missouri 66,500 square miles and 6 million population mostly in 2 urban areas of St Louis and Kansas City.
    Makster, Missouri is a leading cattle and grain producing state with plenty of good fresh water. I am sorry for you that you live in a fantasy of security that is a figment of your imagination.

  12. simonr on Mon, 28th Apr 2014 5:09 am 

    If fracking is the future and the oil/gas is going to create so many jobs, I am confused why subsidies are needed ?

  13. Kenz300 on Mon, 28th Apr 2014 7:20 am 

    Quote — “Lord Browne is also a board member with Riverstone, a private-equity firm that has invested $27 billion into energy companies. In 2010, Riverstone spent $58 million to acquire a 41 percent stake in Cuadrilla.

    Lord Browne has spent the better part of his life working with oil.”
    ———————————

    Give a boy a hammer and everything looks like a nail.
    These old fossils like Browne continue to promote the fossil fuel industry and are trying to reduce any competition from safer, cleaner and cheaper alternative energy sources.

    The energy transition tipping point is here – SmartPlanet

    http://www.smartplanet.com/blog/the-take/the-energy-transition-tipping-point-is-here/?tag=nl.e660&s_cid=e660&ttag=e660&ftag=TRE4eb29b5

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