“Massive boom” in cheap energy expected, if UK exploits shale gas reserves, claim more experts
The debate regarding shale gas exploration and the future of UK’s energy reserves remains a pretty heated one, and it seems that yet another expert has joined the group lobbying for extensive exploration.
So, according to a media report on this matter, Mark Todd, founder of Energyhelpline.com, revealed that extensive shale gas exploration could result in significantly lower bills for households, as technologies become more complex and the actual costs of fracking lowers.
Furthermore, John Llewellyn, former head of international forecasting at the Organisation for Economic Cooperation and Development, said UK oil price forecasts underestimate the impact of fracking.
He said a shift in markets between now and 2020 could halve the price of oil and hailed fracking as “gamechanging” technology.
Unfortunately, it remains to be seen whether there’s really any truth to these claims, given the fact that even energy companies actively involved in this field claim that, while gas obtained from fracking would certainly represent an important resource, it will certainly not be cheaper than the current supplies.
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