Lord Smith Dismisses Drilling Concerns, Fracking Nearly Doubles Ohio’s Gas Production

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Lord Smith Dismisses Drilling Concerns, Fracking Nearly Doubles Ohio’s Gas ProductionPlans to drill Yorkshire in the United Kingdom have started gaining momentum after the regulators shrugged away the main arguments given by fracking opponents.

Environmental Agency Chair Chris Smith dismissed concerns over hydraulic fracturing, saying that the claims have been blown out of proportion. Lord Smith advocated for the drilling of national parks such as the North York Moors, which is one of the regions where energy firms estimate contain trillions of cubic feet of recoverable shale gas, reported the Press.

Dart Energy, a drilling company with a licence to prospect for natural gas in a combined exploration bloc totalling 15,000 sq km in North England, announced in January that it may start hydraulic fracturing in North Yorkshire within the next 2 years.

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Lord Smith insisted that if well managed, any physical impact of the drilling process will be minimized.

“We aren’t yet ready to see 100 per cent of our energy requirements being produced from renewable,” said Lord Smith. “Over the next ten to 20 years we are going to have to use fossil fuels still and it’s much better to use gas than coal.”

In a separate report, state officials disclosed that fracking in the Utica Shale helped nearly double Ohio’s natural gas output from 2012 to 2013. The Director of the Ohio Department of Natural Resources James Zehringer said that since 2012, the state’s oil output grew by 62 percent while natural gas output rose 97 percent.

Zehringer, who was leading an interactive forum at Stark State College in North Canton, said that shale accounted for 16 percent of Ohio’s total natural gas production before accelerating to ove r60 percent last year. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Jonathan Millet at john@forexminute.com