Britain would be “making a big mistake” if it did not seriously consider fracking and the prospect of cheaper gas prices, the Prime Minister has said.
David Cameron said the country is “missing out big time at the moment” as he compared the number of shale gas wells dug in the European Union compared with the United States.
But he cautioned that safety needs to be assured and that “very clear“ environmental procedures would have to be met before companies are given the go-ahead to start fracking.
The economy needs rebalancing but a key part of that is the need to have affordable energy, he added.
“I think we would be making a big mistake as a nation if we did not think hard about how to encourage fracking and cheaper prices right here in the UK,” he said at a Q&A session in Lancashire today.
“If you look what’s happening in America with the advent of shale gas and fracking, their energy costs in business and their gas prices are half the level of ours. We are seeing businesses that have previously gone off to Mexico and elsewhere come back to the United States.
“Nothing is going to happen in this country unless its environmentally safe. There is no question of having earthquakes and fire coming out of taps and all the rest of it. There will be very clear environmental procedures and certificates you will have to get before you can frack.”
He said communities in the United States had felt the financial benefits of shale gas drilling “very quickly” and that British communities could see similar advantages.
In June the shale gas industry announced proposals to offer £100,000 to local communities for each well site where drilling takes place.
“I think if people can see a direct benefit from fracking and from shale gas, they will be more willing to really look at the arguments about what this will mean for ’my community’ if it goes ahead,” he said.
“I think in that way we can see wells dug and we can see the benefits of shale gas here in the UK.”
He continued: “In the whole of the European Union (EU) last year 100 shale gas wells were dug. At the same time in the US there were 10,000.
“The EU has about three-quarters as much shale gas as the US so we are missing out big time at the moment and I want to make sure that Britain does not miss out.”
He said he wants Britain to be a success globally and not miss out on cheaper energy but acknowledged that risk factors should not be overlooked.
Opponents of fracking fear the process of fracturing the shale rock with high pressure liquids made up of water and chemicals to release gas or oil could affect water supplies and cause minor earthquakes.
Concerns have also been raised about the impacts of noise and traffic associated with development, damage to the countryside and house prices, and that exploiting shale gas in the UK could hit efforts to cut carbon emissions.
Recent test drilling in Balcombe, West Sussex, was met with protests by local people and environmentalists.
The UK’s first fracking took place in West Lancashire but was suspended after two minor tremors in the Blackpool area.
Anti-fracking campaigners were among about 100 anti-Government protesters who gathered outside a youth club in Wigan which the Prime Minister opened.
Friends of the Earth’s policy and campaigns director Craig Bennett said: “The Prime Minister is simply adding to the hot air surrounding the potential benefits of fracking – there’s plenty of evidence it won’t cut UK fuel bills.
“Britain’s over-reliance on fossil fuels is causing the energy crisis – digging up parts of our countryside to find more isn’t the solution.
“It’s time to mend our broken energy system by developing Britain’s abundant clean power potential and getting tough on waste.”
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