“My challenge is: does the geology stack up?”The UK’s geology is very different to that of the large and easily accessible shale gas deposits in the US. The body representing the UK’s shale gas industry, UK Onshore Oil and Gas (UKOOG), said more exploration was needed. Only a few small onshore conventional oil fields have been found in the UK, as the other oil and gas has mostly leaked away. Coupled with the environmental safeguards required, this would mean “it will be extremely difficult to match the low price of shipping imports of shale oil and gas from the US,” Haszeldine said. “So even if the geology does not sink your economics, the extra UK costs will.”

Source: The Guardian August 17, 2017 04:52 UTC