Could fracking lead to cheaper business energy bills?

The technique of fracking has been stirring up plenty of discussions between politicians, page environmentalists and utility companies. Depending on which side of the argument you hear, cialis 40mg fracking could provide us with UK sourced shale gas or could be an environmental disaster.

The natural supply of shale gas is estimated to be sufficient for both reducing our reliance on imported gas supplies and reducing the energy bill increases that we have all been experiencing recently, store for many years to come, but what is the price that has to be paid?

Critics say the technique of fracking causes earthquakes and studies have confirmed this. They also claim that the reduction on energy bills is unlikely to be substantial, as global demand for gas supplies continues to grow and when demand is high, prices rarely drop. Another issue is that if the UK undertakes a major fracking project and burns more shale gas, then it is less likely to meet target to cut greenhouse gas emissions by 80% by 2050.

Studies by British Geological have stated that the volume of this potential resource is being compared to that of North Sea Oil. Most of it is held in the rocks around Blackpool in the north-west of England, as well as central Scotland. This resource could enable the UK to be self-sufficient in gas supplies for 50 years at the lowest estimate (and up to 250 times this figure), but what about the long term effects on the environment and people of Lancashire and Scotland?

Comparisons are being made with coal mining; fracking has triggered minor earthquakes, but so did coal mining, gas is a fossil fuel, so it generates carbon dioxide when burnt, but far less than burning coal. If we could replace all our coal-fired electricity with cheap, locally sourced, shale-gas-fired power tomorrow, our carbon emissions would plummet along with our electricity bills.

In addition to reduced energy bills there is the promise that the fracking industry could create a wealth of jobs for the country, along with tax revenues, at a much needed time. As with anything that effects the environment, the long term impact as well as the short term gains needs to be considered. With nuclear reactors closing and alternative energies unable to meet our ever growing demand for energy, we do need to find natural gas sources, but is fracking the way forward?

The debate continues and you will have your opinions, but meanwhile every business should be looking now at ways in which it can reduce the volume of gas and electricity it is using in the business. A reduction in our energy use will enable to UK to benefit from any sources, whether natural or generated, for longer. Reduced energy use also means lower business energy bills, which is beneficial in both the short and long term.

If you would like us to audit your business energy bills, check that you are on the right tariff, paying the lowest prices for the supply you need and suggesting potential ways to reduce your energy bills, call Utel Audits today on 01442 832034

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