UK Regime Lifts Gas Fracking Ban In England

Source: Barron’s

“Britain on Thursday lifted England’s moratorium on controversial gas fracking to boost energy security, despite breaking the ruling Conservative party’s manifesto pledge. Prime Minister Liz Truss had flagged the move two weeks ago, shortly after taking office, in a vast package tackling turmoil in energy markets after key gas supplier Russia invaded Ukraine. The UK had in 2019 called a halt to fracking — or hydraulic fracturing which is used to release hydrocarbons locked deep underground — due to fears it could trigger earthquakes. The moratorium was imposed under Truss'[s] predecessor Boris Johnson following a series of earth tremors, but the government has switched tack after Russia cut off gas supplies to most of Europe, sending prices soaring.” (09/22/22)