Friday, 10 June 2011

Can Shale Gas Save the UK Energy Industry?

Despite what many people think shale gas was discovered nearly 200 hundreds year ago but it was overshadowed by much larger volumes from conventional gas fields and cheaper extraction costs. Thanks to technological advancements shale gas extraction has become a viable option for many countries around the globe, including the UK.

In the US alone the production tripled since 2006 and accounts for 20% of all natural gas produced in the country with predictions of achieving 40% in the near future. With a steady projected growth of 4% per year for the next 20 years, shale gas will be a game changer of the US energy industry.

Here in the UK opinions about shale gas diverge, while the environmentally friendly crew advocate that the extraction process could pollute underground water aquifers. Recent studies conducted by the Energy Select Committee suggest that these risks are non-existent.

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