Get Britain fracking or be held hostage by Russia, says think tank (Daily Telegraph)

The Centre for Policy Studies Growth Bulletin was written up in a Daily Telegraph article, Monday 9 June 2014.

To read the full article, visit the Daily Telegraph website

“Britain risks being held economic hostage by Russia unless the country embraces fracking, a leading London-based think tank has warned.

The Centre for Policy Studies claims that Britain’s growing dependence on foreign imports for almost every form of fossil fuel, from coal to natural gas, means that developing new sources of indigenous energy are vital for future prosperity.

Despite environmental fears and the concerns of local communities over the possible damage that may be caused by fracking, the think tank has argued that freeing the country from reliance on Russian resources would far outweigh any unwanted side effects on the countryside.

According to the centre’s latest bulletin: “Given the fall in domestic energy production, the rise in the UK’s energy import dependence and our particular reliance on Russia for coal imports, it is vital that the Government finds ways to secure future supplies of energy.”

The think tank cites figures from the Department of Energy and Climate Change (DECC) which show that Britain’s energy import dependency climbed to 47pc last year and production of oil from the North Sea fell by 6.5pc.”

To read the full article, visit the Daily Telegraph website

Date Added: Monday 9th June 2014