Britain’s government lifted its ban on a controversial mining process known as hydraulic fracturing, or fracking, Thursday, allowing companies to continue their exploration of shale gas reserves. …
“Today’s news is a turning point for the country’s energy future. Shale gas has the potential to create jobs, generate tax revenues, reduce our reliance on imported gas, and improve our balance of payments,” chief executive Francis Egan said in a statement.
In an interview with CNN, Egan insisted that fracking could be done “safely and sensibly” in Britain and that there are huge reserves to be exploited.
The company believes there is about 200 trillion cubic feet of gas under the ground just within its license area in Lancashire. To put that figure into context, the United Kingdom uses about 3 trillion cubic feet of gas a year, Egan said.