SHALE

Some political parties back the campaign against shale and fracking based upon the fact that any financial gain simply cannot be justified when considering the potential threat to the planet.

In 2012 US oil production grew by over 1 million barrels per day, over 80% of which came from North Dakota and Texas. Five years ago the US imported 2 million barrels per day of refined products (gasoline, diesel, etc.); last year it became the world’s biggest exporter selling 1 million barrels per day of refined products abroad.

Over that same period Chinese net oil imports rose 84% (2.8 million barrels per day). China is well on its way to becoming the world’s largest oil importer; 20 years ago, China was a net exporter of energy.

The US will replace Saudi Arabia as the world’s largest oil producer as early as 2014. Saudi Arabia pumped 9.47 million barrels of crude a day in June, down from 9.83 million the year before. The U.S. is well on its way to achieving production of 9 million barrels a day of crude.

Opposition to shale, fracking, coal, gas and nuclear energy combined with a blinkered preference for the comparatively nascent and expensive renewable options, wind, solar and tidal is itself a preference for higher fuel bills falling through our letter boxes.