Forbes: It's Always Difficult To Tell Whether Greenpeace Is Deliberately Misleading Or Simply Deluded
I find myself having a little argument with a part of the UK offshoot of Greenpeace. Their claim is that fracking for shale gas will lead to a price reduction of only some 2-4% over here in Europe. This is of course a monstrously stupid idea but that’s the one they’re going with anyway. Please note the strength of their claim: all fracking for shale in Europe will only reduce UK natural gas prices by 2-4%. My claim is that they’ve grossly misunderstood what they’re being told and this 2-4% price reduction is in fact the effect of the extra, newly discovered, shale gas in Lancashire upon the European price of gas.We are indeed talking about rather different things.
Before we get into the details of who said what and where, let’s try just a little overview from someone not involved in this particular argument, Bjorn Lomborg :
"In late June the British Geological Survey announced the world’s largest shale-gas field. The Bowland Shale, which lies beneath Lancashire and Yorkshire, contains 50% more gas than the combined reserves of two of the largest fields in the United States, the Barnett Shale and the Marcellus Shale."