Fracking an answer to Wales’ energy needs?

Posted: December 6, 2013 in Cintec, Opinion
Tags: , , ,
George Osborne, Chancellor

George Osborne, Chancellor

In yesterday’s Autumn Statement, Chancellor George Osborne stated that he would introduce a new tax allowance to encourage investment in shale gas that halves tax rates on early profits!

Such encouragement is to be welcomed everywhere, especially here in Wales. Our dependence on fossil fuels, coal in particular, is still of great concern as our supplies reduce and we are actually importing coal from other countries, whereas 100 years ago we were exporting high-grade Welsh coal around the world. We have below our beautiful landscape enough reserves of gas to satisfy our nations needs for many decades.

There are many opposed to this form of gas extraction which does involve drilling and causing possible water contamination as chemicals are used during the fracking process. However, in the UK there are very stringent requirements and safeguards to ensure that the gas is extracted safely and with minimum disturbance to the environment.

Indeed one of our clients, Cintec International has developed a range of products to mitigate many of the concerns faced. From strengthening of bridges with access to drilling sites, to water tight lagoons to carry the vast quantities of water needed during the fracking process , to actually producing a water-tight fabric sock to go around the drill holes. Cintec are already in discussion with exploration companies in the UK and Canada who are very interested in Cintec’s solutions.

With a tightening of regulations and safety of paramount importance, open, honest discussion with all parties concerned can surely only result in fracking taken very seriously as an answer to Wales’s energy needs in the future. Let’s embrace the opportunity and not kick it into touch through ignorance and vested interest.

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