Dominic Lawson argues:'As far as this country is concerned, the obvious policy response to Moscow’s manipulation of gas supply would be for the new prime minister to reverse the onshore shale gas moratorium kept in place by Boris Johnson. If even just 10 per cent of the reserves estimated by the British Geological Survey are recoverable, that amounts to 50 years of domestic supply at current consumption levels.'
I would expect this argument to appeal to Liz Truss. However, Lawson adds:
'In March, the business secretary, Kwasi Kwarteng, pronounced that “the UK has no gas-supply issues . . . and fracking would come at a high cost to communities”. Those words must be eaten, rapidly. Liz Truss has declared she will back shale-gas production “if local communities support it”. That qualification leaves the matter unclear.'
AJL Price at posting:
9.8¢ Sentiment: Hold Disclosure: Held
