Compare the treatment of shale gas to the alternatives. Another source of the same product (methane) is biogas, produced by household waste, sewage and farm manure. The great majority is untapped. Capturing it is easy, uncontroversial and probably a lot more profitable than shale gas.
This is the value of this capitalist market economy type thing. If something is more profitable then people tend to do it. That people are not doing it can therefore be taken as a signal (no, not proof, only as signal, for lack of information reasons) that it is not more profitable.
Securing financial support for an anaerobic digestion project can be challenging. Private finance is available but owing to the significant capital expenditure associated with bioenergy facilities and the risks involved, such funding can be difficult to obtain.
Another way of putting this is that with the current technology biogas is not more profitable.
And of course this is just flat out lying:
The prime minister fluently defends the fracking companies. Last week he maintained that \”fracking has real potential to drive energy bills down\”. Rubbish. The government\’s projection for gas prices sees them rising (with wobbles) from 61p per therm in 2012 to 72p in 2018, where, it predicts, they will stay until 2030. Even the major fracking company here, Cuadrilla, admits that the impact of shale gas on energy bills will be \”basically insignificant\”.
That \”basically insignificant\” comes from here:
Meanwhile, the research that Mr Linder said demonstrated shale\’s negligible impact on price, is presented quite differently in Cuadrilla\’s press release on its findings.
The report, by the Poyry consultancy, estimates that if shale gas production booms in the 2020s it will cut gas and electricity prices by between 2 and 4 per cent.
“According to Poyry, Lancashire shale gas production could also reduce the country\’s wholesale gas and electricity prices by as much as 4 per cent between 2014 and 2035, which corresponds to an average saving of £810m/year,” said the release by Cuadrilla, which is chaired by former BP chief executive Lord Browne.
Sigh. As I pointed out here, they\’re lying. There are two Poyry reports. One on the effect of European fracking on European gas prices. They halve. One on the effect of the extra reserves that Cuadrilla announced in Lancashire on European gas prices: 2-4%.
Greenpeace has been (deliberately?) confusing the two in order to give this most misleading impression that fracking will not have much impact upon gas prices.