
Fracking banned in UK as government makes major U-turn - pseudolus
https://www.theguardian.com/environment/2019/nov/02/fracking-banned-in-uk-as-government-makes-major-u-turn
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sova
"The decision was taken after a new scientific study warned it was not
possible to rule out “unacceptable” consequences for those living near
fracking sites.

The report, undertaken by the Oil and Gas Authority (OGA), also warned it was
not possible to predict the magnitude of earthquakes fracking might trigger."

In Ohio, where I grew up, I know, home of the fault lines, right? We have had
several earthquakes and tremors. Fracking, despite environmentalist messages
to Congress, is alive and well. And the deeper the well, the stronger the
earthquake.

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jillesvangurp
Economics will kill it eventually; which is an additional reason that British
conservatives are less enthusiastic about the notion of fracking now. A few
years ago it was sold as a clean and cheap way to get gas and oil. Indeed
there has been a bit of an investment bubble around this.

However, ROI for fracking investments is very dependent on a combination of a
lack of accountability for the damage the process causes (which proponents
deny is a thing) and the ability to sell at a high price. Neither is a sure
bet. Rather the opposite. With clean energy becoming price competitive in the
UK, the high price of fracking gas means less demand and people expecting more
bang for their buck in terms of cleanness.

In the UK they've already deployed a lot of wind power and more is coming.
That means expensive gas surrounded by scandals of pollution, minor earth
quakes are not just inconvenient but major obstacles for any financial
returns. Grumpy citizens translates into wide popular support for action
against companies involved; which could be costly. Additionally, politicians
are very sensitive about not pissing off their voters. Fracking never had much
popular support to begin with and the topic is increasingly politically toxic.
So, they shut it down. Wise choice.

The US is a bit of wild west in terms of accountability when it comes to this
but it will eventually face the same economics.

~~~
perl4ever
It's one thing to say there are externalities; it's another thing to say that
nobody can put bounds on them.

There is an equivocation in saying something is not economical while
implicitly rejecting the idea of measuring it at all.

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Lecteur
Britain is small and densely populated - everywhere is a suburb of somewhere -
and fracking sites tend to fall in wealthy exurbs. How much future would US
fracking have if most sites were in Westchester and Orange counties?

