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Britain to lift fracking ban

The move is viewed as a way to alleviate the energy crisisBritain to lift fracking ban

Britain to lift fracking ban

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The UK’s new prime minister, Liz Truss, on Thursday announced the lifting of a moratorium on fracking in the country as part of a plan to tackle the energy crisis and enhance the domestic energy supply.

Far from being dependent on the global energy market and the actions of malign actors, we will make sure that the UK is a net energy exporter by 2040,” she said, as cited by The Independent.

Once the ban is lifted, developers will be able to seek permission for fracking and the UK could see the first gas start flowing in as soon as six months, she added.

Fracking is a technology which allows oil and gas to be extracted from shale rock by breaking it up with water and chemicals. It was banned in the UK in 2019, after research revealed the risk of earthquakes due to the procedure.

During the race to become prime minister, Truss stated on several occasions that she would only allow fracking in communities that do not oppose the practice, as many are vocally against it. Only 17% of the people in Britain support fracking, according to a government survey published last year.

UK factories facing bleakest winter in 50 years – Bloomberg

Apart from lifting the ban on fracking, Truss’ plan to tackle the energy crisis includes more than 100 new licenses for oil and gas exploration in the North Sea, and a new £2,500 ($2,880) price cap on consumer energy bills which would last for two years.

For more stories on economy & finance visit RT’s business section


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