Where Have I Heard This Before?

[denis567]

Article in todays Daily Express - 'Gas find offers hope of big cut in energy bills'
regarding Britains shale gas reserves. It goes on to say that if we exploit these reserves to the full, we could see energy bills plunging by the end of the decade.
I remember in the late 60's/early 70's when North Sea oil started being exploited, that the news headlines, at that time, promised us cheap gas and oil for our lifetime. I am still waiting!!!

[Gromit]

Even before that, in the 50s, Nuclear energy was going to be free to produce and electricity bills were going to be very cheap.

And of course, they never are.

[Clanad]

However, if our experience here in the western U.S. counts, this is vastly different. The reason it's different and has produced enormous amounts of here-to-for unrecoverable natural gas and oil is because of the technology.

directional drilling is a science that can produce numerous bore holes all from a single entrance drill stem.

We've seen some of our western States make the U.S. nearly energy self-sufficient... to the point we're exporting gas and oil. Our neighbors to the north are experiencing the same results in the western Provinces.

*I've lived thorugh numerous "boom and bust" cycles here... meaning a new field would be discovered, but within a decade it's either greatly slowed down in production or has become costly to treat back to life. One State here (North Dakota) is said to have as much reserve... mostly recoverable as the Middle East. The Bakken formation was and is huge, but just recent another producing formation was discovered directly underneath the Bakken... meaning the directional drilling and fracking (hydraulic fracturing of the formation (that's several thousnds of feet below the surface) can simply be extended into that formation without the costly drilling of a new well... Truly amazing...

[factor-fiction]

The prsopects do look promising but it may take years, especially as there are so many groups lobbying against it on the grounds it damages the countryside, might lead to earth thremors etc

[Mosaic]

Yes - I heard this and thought I was back in 1970.
I'll tell you who won't feel a penny of whatever reserves there are - the poor sods who live on top of it.

[mikey4444]

Shale gas will and is providing vast new reserves of gas. Its already drastically reduced prices in the States and it can do the same here.

I for one, am fed up with paying the huge energy bills since privatisation.

Lets hope they can find plenty of shale gas reserves in Britain, hopefully not under wealthy and educated people houses though, otherwise the NIMBY's will rise up !

[LazyGun]

I think the commonly held perception about the benefits of our boom time in north sea oil was that it funded tax cuts, so I guess people did benefit financially.

For myself, I do have concerns about our continued reliance on fossil fuels. I also find it quite timely that our shale gas reserves have conveniently been substantially revised upwards. I also have concerns about the fracking process, with the risk of earth tremours and pollution of the water table.

Overall though, given the slow transition away from fossil fuels, and the exponentially rising cost of gas in particular, then from a pragmatic perspective it probably makes sense to utilize it. Kind of glad I do not live in NW England though! :)