In this informative and startling talk, David Smythe, Emeritus Professor of Geophysics at the University of Glasgow, exposes the fracking industry as being both unprofitable and environmentally damaging. He also describes how the industry has been misleading the public and how it has not been adequately regulated. David Smythe was Professor of Geophysics at the University of Glasgow. Following early retirement in 1998 he consulted intermittently for the oil industry. Since 2013 he has researched the risks of contamination of groundwater resources by fracking. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx
TEDx 13th Feb 2018 read more »
As the electric car revolution takes hold and governments turn to greener fuels to power growing economies, gas and renewable energy is increasingly challenging oil as the headline act. The petroleum industry is embracing gas like never before. Oil majors like Royal Dutch Shell and BP are committing more of their future spending plans to gas production and renewables. Gas outweighs oil by 25 per cent among pre-development resources awaiting investment decisions, according to Wood Mackenzie, the energy consultancy. Meanwhile, the world’s largest independent commodity houses, including Vitol and Trafigura, are ploughing resources into marketing liquefied natural gas, with seaborne cargoes of the super-cooled fuel helping gas become a far more global and tradeable commodity. The biggest change, however, is that the industry is now seriously thinking about whether oil demand will peak in the coming decades – forcing a reckoning within companies about the long-term value of their business models. The energy sector is still trying to understand whether gas will act as a bridge between oil and renewables, or become a so-called “final destination” fuel if cleaner alternatives and technologies struggle to keep up with fast-growing demand. The International Energy Agency forecasts that if governments adopt more aggressive climate policies, gas and renewables’ share of energy supply could reach 54 per cent in 2040, up from 36 per cent in 2016.
FT 19th Feb 2018 read more »
Campaigners have accused the Treasury of allowing the appearance of a conflict of interest over its examination of an energy company at the forefront of fracking in the UK. Third Energy’s financial health is being looked at by a Treasury body, the Infrastructure and Projects Authority (IPA), whose findings will inform whether the government gives the firm a green light. But Third Energy’s newest director, Conservative party peer and donor Jitesh Gadhia, is also a non-executive director at another Treasury body, UK Government Investments. One of UKGI’s roles is to provide advice to the government on dealing with financially distressed businesses. Rose Dickinson, a Friends of the Earth campaigner, said: “This seems a conflict of interest. Not only that, it looks fairly shambolic. It’s things like this that make the industry hard for people to trust. It’s another reason why government should say no to fracking – it’s not wanted, and it is bad for the environment.”
Guardian 19th Feb 2018 read more »