The North Sea is running out of oil and gas – well, it was always going to happen… More unexpectedly perhaps, this year it cost the taxpayer £400m to support (that’s the cost of tax breaks to the net of tax revenue) – it is clearly an industry in terminal decline. It’s been coming for some time of course, as has the answer to the question – where Britain will get its gas from?
The government’s chosen answer is Fracking: probably the most unpopular source of energy ever, so unpopular (and uneconomic) that the government had to water down environmental protections, change land ownership and planning law, promise the most generous tax regime anywhere in the world, and literally force this new industry on a countryside in revolt.
But there is another way for Britain to replace North Sea gas – and with a source of gas that is sustainable in all senses of the word. Continue reading “Britain’s new North Sea?”