JC and some others have told us about this from time to time, here is a nice piece from Nigel Lawson on the technology and the implications of “fracking” to tap hundreds of years of supplies of oil and gas from shale. With attractive pictures of Chancellor George Gibson, shale rocks and Blackpool.
Has anyone been following Alan Jones and his diatribes against fracking in NSW? He makes sense on most issues apart from free trade and I would like a professional opinion on this bee in his bonnet. Lawson wrote:
Scare stories about fracking leading to water pollution are equally unfounded, with upwards of a mile of solid rock separating the shallow aquifers from which we draw our drinking water from the deep deposits where the shale gas is to be found and where the fracking occurs.
The bottom line is that, contrary to the peak oil fantasists, fossil fuels are going to become more available, not less.
Today, oil, gas and coal represent 80 per cent of the global energy mix. They will continue to dominate the world’s energy markets for decades to come. And within that picture, natural gas is going to offer the cheapest way to produce electricity: cheaper than nuclear energy and massively cheaper than renewables.
We are living in an era when good news is thin on the ground. The shale gas revolution is the exception: a game-changing piece of good news, both economically and geo-politically, both for this country and for the world.