Finally, some (potentially) good news for the UK.
Reuters has a nice exclusive today, revealing that industry experts now think that the UK’s offshore reserves of shale gas could exceed one thousand trillion cubic feet (tcf) — more than 5 times original estimates.
That number would put the UK up in with China, the United States and Argentina, who are currently thought to have the highest shale gas reserves in the world.
In mor good news, the Reuters report goes on to say that while the offshore reserves may be difficult to get to, new technology is coming out that should lower the cost of extracting and make it an economical option — and eventually make the UK energy self-sufficient.
Shale gas exploration and fracking had become controversial in the UK after reports that they were responsible for earthquakes in the North West. A report published by the U.K. Department of Energy and Climate Change said that fracking on the site could continue with new safety measures, WSJ reports.
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