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UK’s South England holds billions of barrels of shale oil
Posted by Bloomberg: Nidaa Bakhsh on May 24th, 2014
Bloomberg: Shale rock underneath some of the wealthiest counties in southern England may contain billions of barrels of oil, a government report said.
The Weald basin, covering counties south of London including Surrey, Sussex and Kent, may have oil in place of as much as 8.6 billion barrels, according to a report published today by the British Geological Survey. It didn’t say how much could be extracted profitably. The U.K.’s current extractable oil reserves are 3.1 billion barrels, data by BP Plc (BP/)...
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U.K. Fracking Review Sees Low Risk to Health From Shale Drilling
Posted by Bloomberg: Nidaa Bakhsh on October 31st, 2013
Bloomberg: Risks to the public from shale-gas drilling are expected to be low as long as operations are well-regulated, a U.K. government-backed body said in a draft report.
“Public Health England anticipates a low risk to public health from direct releases of chemicals and radioactive material if shale gas extraction is properly operated and regulated,” it said, seeking comments for the final report.
Prime Minister David Cameron’s government has proposed the world’s most generous tax system to encourage...
U.K. Fracking May Not Reduce Domestic Gas Prices, Report Shows
Posted by Bloomberg: Nidaa Bakhsh on April 26th, 2013
Bloomberg: Developing U.K. shale gas may fail to follow U.S. precedent and cut local prices due to differences in geography, population density and environmental controls and as world fuel demand grows, according to a parliamentary report.
On the flipside, shale would benefit the U.K. by reducing reliance on gas imports and adding to tax revenue, the House of Commons Energy and Climate Change Committee said in the report.
“Ministers should be careful not to base energy policy on an assumption that gas...