Geologists Say UK Shale Deposits Hold Vast Energy Reserves

fishmike writes with this news snipped from a Reuters story: "Britain may have enough offshore shale gas to catapult it into the top ranks of global producers, energy experts now believe, and while production costs are still very high, new U.S. technology should eventually make reserves commercially viable. UK offshore reserves of shale gas could exceed one thousand trillion cubic feet (tcf), compared to current rates of UK gas consumption of 3.5 tcf a year, or five times the latest estimate of onshore shale gas of 200 trillion cubic feet."

Comments

The WORLD has dodged a bullet (sort of)

[wisebabo]

Look I'm as concerned (and convinced) about environmental damage and global warming as anyone. But finding immense reserves of natural gas in the U.S. and now the UK can only be a good thing. It should buy us a few decades of relatively cheap, relatively low carbon producing (well at least compared to coal and oil shale) energy. If it's cheap enough (or if we aren't too cheap ourselves) we can use the energy to PULL CO2 from the atmosphere (I've heard a measly 10% increase in the cost of electricity would pay for it!).

Ok, if we insist on being idiots, we're still gonna get somewhat screwed by global warming, but hopefully we won't lose more than a few million species and displace no more than a few hundred million people (*SIGH*). The environmental damage from shale gas, while significant, is on a local level and the earthquakes are nothing to be afraid of (I'm from CA so I know earthquakes). Sorry for the low expectations but I'll take this as GOOD news.

The BEST thing about this is that we won't be supporting (as much) people who hate us and want to blow us up. (What is about this that Republicans don't understand? That SUVs = terrorists.) Also the jobs that are created will be on-shore (or just off-shore).

Re:Where is this?

[rich_hudds]

I'm English and most of my fellow countrymen are quite happy for Scotland to be independent. Think it would do both countries a lot of good to be honest.

I worked in Glasgow for a while and found everyone perfectly pleasant, whenever a Scot works in England though they seem to get all chippy and resentful for some reason.

Think maybe you're confusing the English with the much smaller bunch of Londoners who dominate our media and other elites. Speaking as a Northerner who's worked in London I can guarantee that they are just as patronising to us as they probably are to you Scots.

Re:Bigger Problems Than That

[sFurbo]

Through kilometers of rock that has held gas for millenia? While "no chance" is extreme, I would say that there are far more relevant concerns with regards to fracking.

Re:Where is this?

[Wizard Drongo]

I wouldn't normally respond to such nonsense, but it irks me that someone else might read this and not know the truth:

1) Alex Salmond was democratically elected by the people of Scotland. How's that Cameron working out for you?

2) HBOS is made up of Bank of Scotland (in Scotland, strangely), and Halifax Building Society (almost all in England). BoS was very profitable, one of the last great retail banks. Halifax on the other hand was massively in debt, toxic nasty debt from overextending mortgages to anyone and everyone. This is why HBOS was bought "outright" by the Lloyds Group (under HM Govt. orders), instead of breaking it up into BoS and Halifax - it would have become clear that the debt was an English one and not a Scottish one, despite the Scottish name. If Scotland had been independent, under international law, we'd have had to account for the assets in Scotland, and their debts; this would have been very little, since Halifax was never that popular in Scotland, and BoS was running a profit. England would have been saddled with massive debts.

3) RBS, bit different, since it was still a Scottish bank. However, again, most of the debt was another part of the company, in this case the Dutch investment group ABN Amro. A lot of the debt was serviced by the Netherlands government, but yah, RBS would have had to be bailed out by Scotland. Fair enough, we'd have the credit rating to support it if we were independent.

I don't mind the notion that Scotland should pay her way after independence, nor do I think we'd have a problem doing so. I do mind the idea that England somehow subsidises Scotland, given that even the somewhat-biased UK Govt. figures (google "GERS 2011") show that Scotland pays more tax per capita than the English do, and on top of that has been running a surplus for several years. Scotland has 8.4% of the UK population, and yet pays 9.4% of the tax, and is responsible for over 10% of the UK's GDP. And all of that is NOT including all the North Sea oil & gas revenues that will become Scotland's post independence. Nor does it account for any taxes raised in Scotland by companies registered in England (such as most banks, shops etc.) , a good example being Tesco's which brings in staggering quantities of money in Scotland, but pays it's tax from London, and so it not accounted for in Scottish figures. Post-independence that will obviously change, so really, when the economic figures are in, Scotland will be a lot richer and better off without having to subsidise London.

Re:Bigger Problems Than That

[PopeRatzo]

Given that it is pumped into oil/gas-carrying rock, it will not seep into the water table.

Start the countdown to the news announcement that fracking is really "healthy for the Earth" along with pictures of children planting flowers around the site.

There's a guy from some energy corp-funded "Family Council on Freedom, Prosperity and Liberty for Families" who's written a book and doing the circuit of schools and right-wing media and church groups who explains how fossil fuels are just "chewed up plant matter" which is "food for our society" and the fact that it's "chewed up plant matter" is proof that you can't get energy from the sun. Or something. He's a Texan (natch) and has a down-homey way of speech, sort of like if Will Rogers was one of the Koch Brothers.

Fracking - what could go wrong?