Number 96. Placing revenues from shale gas into a Sovereign Wealth Fund to ensure future growth and security
This is not a unique Ukip proposal. In fact it’s has already been debated in the House of Lords.
The irony of ukip, whose supporters are obsessed with the rights of ownership, happy to allow fracking under their homes.
There is no mention of the community “bribe” that the tories have offered the North to be polluted – this is worth £100,000 for communities prepared to host a well plus 1% of the revenue.
Most of the UK Shale Gas is the north of England and the issue of population density is significant, with the Bowland shale being found under some of the most heavily populated areas of the UK, as well as environmentally sensitive areas such as the Pennines.
The government has had to accept this week changes that would ban fracking in national parks, areas of outstanding natural beauty and in areas where drinking water is collected, ruling out significant regions of the UK’s shale gas deposits. Ukip, who are obsessed by not building on Green Belts, would be somewhat hypercritical to suggest fracking under genuine areas of natural beauty.
We do not have any where near the number of rigs required and our geology is far more complicated than that in the United States.
Current estimates on when the UK may have a shale gas industry look to it being at least the early 2020s. There are only 9 wells planned for 2015!.
Meanwhile those in the know like Professor Jim Watson, research director at the UK Energy Research Centre and author of a recent report on the potential for shale gas in the UK, have said that statements by politicians on shale gas’s potential have been speculative.
And for those who think fracking will provide cheap energy or that there will be massive profits for the government to invest in a sovereign wealth fund through the selling off of licenses, its all far from guaranteed.
If you are a kipper and you think that Farage is an expert on energy therefore believing number 96 is a reason to vote Ukip, read this report – The UK’s Global Gas Challenge .
Ukip’s policy will rely on foreign energy companies using unproven technologies when applied to the UK, whilst they ask us to invest vast quantities of our own money in the infrastructure required to get these companies involved. Meanwhile green energies being developed by British companies will lack government investment, despite there inevitable importance.