UK Government’s sheer concern about securing energy independence has triggered the idea of this new law which is soon going to be passed. “A bill would be proposed to enhance the U.K.’s energy independence and security by opening up access to shale and geothermal sites”, Queen Elizabeth II clearly stated while setting out the government’s legislative plans.
In present scenario, companies need to procure permission from the landowners of all the properties they may pass under, if they plan to drill offshore for oil and gas. With passing of this law, the need for obtaining permission shall be lifted. Though it sounds quite unfair as of now, but it will be beneficial for every UK citizen in the long run. There are other industries which have access to the underground lands beneath the homes of people, such as for laying cables, water pipes, tunnels, etc. These are even nearer to the surface as compared to the access that we are talking about here. So it would comparatively be a much fair deal.
Development of alternative shale reserves have become a necessity with aging North Sea fields, in order to cut down on energy costs. David Cameron’s government is targeting the rich stretch of lands in Northern England which might hold 1,300 trillion cubic feet of natural gas. That will be huge enough to meet demands for at least next 50 years. This is great news for the deregulated energy market in UK. Competition has been reported to be mild even though the industry got privatised. This news calls for a rapid expansion. All the big players in energy market are here by intimidated to pull up their socks, emerge out of their comfortable shells, and briskly head towards an aggressive competition zone with some purposeful inbound and outbound marketing.