The Big Frack Debate Time and time again we hear the mantra of how the USA is experiencing a Shale Gas boom due to Fracking and how the industry has lowered the price of Gas to record lows. This is not in dispute. Though Fracking technology has been around for many years, Fracking is new in a commercial high volume production sense due to advances in the technology. The Shale Gas boom has taken place roughly over the last ten years. It caught many by surprise. The very reason the USA had a boom was because the new commercial technique came out of nowhere to revolutionise the Gas industry in the USA. The problem is that the industry has produced a lot of unwanted and unexpected side-effects. The very reason the boom in part happened was because the industry and technology/techniques of Fracking far outpaced the regulations needed to keep it “Safe”. Here rests the problem. We here in Ireland are being promised that Fracking will be tightly regulated, but the glaring fact is clear for all to see that the Drilling companies in the USA had such high financial returns on Fracking because the regulations lagged far behind and this in part allowed the very same companies to cut corners ‘carte blanche’ and save vast sums of money on such things as disposal of waste water from fracking. Fracking as we know is a hydro-intensive process requiring millions of litres of water for a single well for which it maybe Fracked many times. The disposal of highly toxic waste water in the USA was found to be dumped on roads, fields and indications show even into local rivers. This is one example of where money was saved from logistics, and treatment of the dirty water to make it safe and easily disposed. This saved the companies huge amounts of cash. Now we know the threats from fracking, and now we hear that it will be tightly regulated so that nothing will go wrong. It maybe found that it may make it non-economic sense from a drilling companies point of view to Frack with such regulations put in place here in Europe. But they are allowed to Frack. That may mean that the regulations put in place have no real authority and may leave the companies in a position where they may find avenues to go down that could allow themselves to find alternative ways to operate and not be financially constrained. This seems to me to be most concerning. You cannot have one without the other, a Boom in Shale gas is not possible without free de-regulatory reign by the drilling companies. They had it too good for too long. Imagine how long a plane journey would be cut without all the hassle of queuing, checking-in, security searches, baggage handling and other procedures. To do away with these vital procedures would save a large amount of time and money, but this is unlikely to happen in the world we live in today. Simply put, to regulate properly means Fracking companies may not find it convenient to operate. Even with the tax incentive gifts lavished on them by George Osbourne. Fracking companies may get a return on Fracking here, but not the return we were all promised. And to what cost? Our environment? Our Agri-Sector? Michael Doran Managing Director Action Renewables (Belfast): "Potential to promote/develop renewable energy on the island of Ireland is substantial. We could be producing over 100% of our electricity requirement within 30-35 years." Come in all Fracking companies, your time is up
Posted on: Tue, 06 Aug 2013 18:57:15 +0000