Gas prices will not be cheaper

Professor Jim Watson, Research Director, UK Energy Research Centre (UKERC) “My view is that UK shale production is unlikely to have the dramatic impact on gas prices that has occurred in the United States.”

Professor Stuart Haszeldine, Professor of Sedimentary Geology, University of Edinburgh” Europe does not have the huge numbers of drilling rigs needed to drill, and keep on drilling boreholes at the rate needed to make shale gas a significant impact on UK gas supply. “

Samuela Bassi, Policy Analyst at the Grantham Research Institute in Climate Change and the Environment, and the Centre for Climate Change Economics and Policy, London School of Economics and Political Science “However, these new BGS figures do not indicate that there is enough shale gas to stop the UK being dependent on imports of natural gas, and so fuel prices for households and businesses will not automatically fall.”

Lord Browne chairman of fracking company Cuadrilla, one of the most powerful energy figures in Britain, “Fracking is not going to reduce gas prices in the UK”, according to the chairman of the UK’s leading shale gas company,

However, Browne, who is the chairman of fracking company Cuadrilla, said: “I don’t know what the contribution of shale gas will be to the energy mix of the UK. We need to drill probably 10-12 wells and test them and it needs to be done as quickly as possible.”

“We are part of a well-connected European gas market and, unless it is a gigantic amount of gas, it is not going to have material impact on price,” he said. http://www.theguardian.com/environment/2013/nov/29/browne-fracking-not-reduce-uk-gas-prices-shale-energy-bills

More expert reaction to shale gas reserves are greater than previously thought:

http://www.sciencemediacentre.org/expert-reaction-to-the-news-that-shale-gas-reserves-in-lancashire-and-yorkshire-are-greater-than-previously-thought/

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