Shale Gas & Fracking - Week 2

I'm now into week 2 of the Shale Gas & Fracking Course.  This week we are focussing on the economics and energy security of shale gas development.  The material and quality of tuition continue to be excellent.  Although I admit to being opposed to fracking, I came into the course determined to become better informed and take a serious look at both sides of the argument.  Well so far my views have not changed.  The information provided on the world's energy mix and specifically the actual usage for 1990 to 2012 and the forecast for 2012 to 2035, illustrated a predicted growth in energy requirements and a continuing dependence on fossil fuels.  Probably not surprising as the data were provided by BP!  My comment on the forecast is that it would appear to be an extrapolation of the past with a small increase in absolute terms of renewable energy.  Maybe that's what will happen if we continue business as usual, but as far as I'm concerned that is a totally unacceptable scenario.  We should determine what energy mix there needs to be by 2035 if the planet has a chance of survival and then take positive actions to achieve our objectives.

As well as some very informative material on natural gas and how it's used, we were also provided with an analysis of energy security, as well as a positive and a negative view on the economics of shale gas.  The debate will continue with an online discussion later this week.  I don't want to repeat the course material in this blog post, so I will conclude this post with my personal view based on the debate so far.  I feel that no matter how the economic argument is presented, the financial justification for fracking is extremely flakey.  But that aside, I think the cost benefits or penalties are immaterial.  We really shouldn't be perpetuating the combustion of fossil fuels.  In my opinion, shale gas will not provide a bridge to a low carbon economy, as claimed by some of those in favour, but an excuse for world political leaders to delay further the actions that are already overdue, to go green.

So, that's almost half the course completed and it's going too quickly!  Watch this blog for my next update.