Fracking is the “moral and economic choice”, says IEA energy analyst
5 April 2022
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Commenting on the government-commissioned scientific review of fracking, Andy Mayer, chief operating officer and energy analyst at free market think tank the Institute of Economic Affairs, said:
“This review is welcome but it is focused on how invented seismology risks might be better regulated through new technology, rather than the straightforward problem of over-regulation.
“Fracking is an extractive industry like mining and quarrying and should be held to the same standards, not to rules so extreme that ‘a ladder falling over’ can prevent drilling.
“The central issues are simple. The UK needs gas. It can’t get all the gas it needs from the North Sea, but there are between 7 and 17 more reserves onshore. The UK can either frack this gas or import it from elsewhere.
“If we frack, we can use the tax to fund our low carbon transition and compensate local communities. If we import via the EU, we will be funding Russian tanks. The moral and economic choice is to frack. It should not be a question of jumping through hoops for regulatory agencies to disprove invented safety concerns.”
ENDS
Notes to editors
Contact:Emily Carver, Head of Media, 07715 942 731
IEA spokespeople are available for interview and further comment.
“This review is welcome but it is focused on how invented seismology risks might be better regulated through new technology, rather than the straightforward problem of over-regulation.
“Fracking is an extractive industry like mining and quarrying and should be held to the same standards, not to rules so extreme that ‘a ladder falling over’ can prevent drilling.
“The central issues are simple. The UK needs gas. It can’t get all the gas it needs from the North Sea, but there are between 7 and 17 more reserves onshore. The UK can either frack this gas or import it from elsewhere.
“If we frack, we can use the tax to fund our low carbon transition and compensate local communities. If we import via the EU, we will be funding Russian tanks. The moral and economic choice is to frack. It should not be a question of jumping through hoops for regulatory agencies to disprove invented safety concerns.”
ENDS
Notes to editors
Contact:Emily Carver, Head of Media, 07715 942 731
IEA spokespeople are available for interview and further comment.
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