A report by the House of Lords Economic Affairs Committee has stated that the development of the UK’s shale resources needs to be an urgent national priority to improve energy security and create new jobs.
The committee backed the government’s decision to go all-out for shale, but is disappointed that the exploratory drilling with hydraulic fracturing needed for shale gas development has hardly started.
It states that the Environment Agency has not received or approved a single application for exploratory drilling permits since the lifting of a moratorium on hydraulic fracturing in 2012.
The report calls for a simplified and clear regulatory regime to encourage development of shale and reassure communities that risks of harm to the environment or human health are low.
House of Lords Economic Affairs Committee chairman Lord MacGregor said that a successful shale gas industry in the UK would be good for the country’s economy and energy security.
"The US has raced ahead with the development of shale gas and oil in recent years, with enormous benefits to US industry and the economy generally," MacGregor added.
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By GlobalData"The Government must do more to simplify regulation to ensure that exploratory drilling and development can go ahead. Regulation around shale should be robust, but should move quickly and be easy to understand."
Image: The House of Lords Economic Affairs Committee backed the UK government’s decision to go all-out for shale. Photo: courtesy of the UK Parliament.
