Research

Does today’s climate report change the arguments on UK fracking?

pnr 181005 danny vc llew 2

Fracking equipment ready for use at Cuadrilla’s shale gas site at Preston New Road, 5 October 2018. Photo: Danny Vc Llew

UK anti-fracking campaigners claimed their case against shale gas was supported by today’s international report on the actions needed to limit global warming to 1.5 ºC.

The UK government made no reference to shale gas in its response to the assessment by the Intergovernmental Panel on Climate Change (IPCC). But the onshore oil and gas industry said carbon capture and storage and extracting hydrogen from methane could be cost-effective decarbonisation options.

The IPCC report concluded that limiting global warming to 1.5ºC would require rapid, far-reaching and unprecedented changes in all aspects of society.

It said there would need to be “rapid and far-reaching” transitions in land, energy, industry, buildings, transport, and cities. Global net human-caused emissions of carbon dioxide (CO2) would need to fall by about 45 percent from 2010 levels by 2030, reaching ‘net zero’ around 2050. This meant that any remaining emissions would need to be balanced by removing CO2 from the air.

Allowing the global temperature to temporarily exceed or ‘overshoot’ 1.5ºC would mean a greater reliance on techniques that remove CO2 from the air to return global temperature to below 1.5ºC by 2100, the report said. The effectiveness of such techniques were unproven at large scale and some may carry significant risks for sustainable development, it noted. Link to the report

DrillOrDrop has been looking at the reaction to the report.

“Urgent need to reduce global greenhouse gas emissions”

Claire Perry, energy and clean growth minister

“I welcome the strong scientific analysis behind today’s IPCC report and it’s conclusions are stark and sober. As policy makers we need to work together to accelerate the low carbon transition to minimise the costs and misery of a rapidly warming world.

“In the UK we have shown great leadership with the passage of the world’s first Climate Change Act a decade ago, the most rapid decarbonisation in the G7 and a comprehensive Clean Growth Strategy detailing policies to cut carbon right across the economy.  Our upcoming Green GB Week from October 15 will help us reflect on this progress but also the urgent need to reduce our greenhouse gas emissions globally.”

“Need for democratic control and public interest decision making

Rebecca Long Bailey, shadow business, energy and industrial strategy secretary

“Today’s IPCC report is sobering – a call for transformative action to avoid dangerous climate change. That is Labour’s offer to the public. But we must be honest: it is something the Conservatives will never be able to deliver.”

She said it was not a lack of knowledge or technology that prevented action.

“What we do lack is an economic system in which major decisions about resource use are under democratic control.

“We also lack a political and economic system in which decisions are made in the public interest, for the many not the few.

“We need democratic control and public interest decision making to tackle climate change – but these two things are anathema to conservatives. That is why a Tory administration could never deliver on the scale required. Fracking is just one example of this.”

“Ban on fracking”

Bill Esterson, shadow energy and international trade minister

181008 IPCC Bill Esterson tweet

“CCS and methane reforming cost-effective options”

Ken Cronin, chief executive, UK Onshore Oil and Gas

“The Committee on Climate Change have expressed that ‘Carbon capture and storage (CCS) is part of the cost-effective pathway for an emissions reduction of 80% by 2050, and its absence could double the cost of achieving this reduction. CCS becomes even more important for deeper reductions by 2050 and is essential to reach net-zero emissions, committed to under the Paris Agreement’

“Several pieces of analysis have concluded that the least cost decarbonisation for sectors such as heating and industry involves methane reforming with CCS. The alternative requires a costlier and more intrusive intervention into the UK’s homes and businesses.

“As the UK has a 50% gas import dependency, which is forecast to increase to almost 75% by 2035 without UK shale gas production – the UK would have to achieve its decarbonisation targets with higher carbon imported gas, such as LNG and long distance pipeline.”

“Government pushing us towards climate tipping point”

Caroline Lucas, Green Party MP and former leader

“Today’s IPCC report is unequivocal: renewables need to supply 70-85% of ower by 2050.

“Fracking will put us on a dangerous path towards climate breakdown.”

“Government not on track to make changes”

Jonathan Bartley, co-leader, Green Party

181008 IPCC Jonathan Bartley tweet

“Time is running out”

Friends of the Earth

181008 IPCC FoE tweet

Rachel Kennerley, Friends of the Earth climate campaigner, said:

“Political will can get us out of this and the UK government can choose whether to heed this report’s findings. Currently, they’re choosing to ignore the full weight of scientific consensus and are directly funding climate chaos by supporting fracking and other dirty industries.”

“Consequences of new fracking industry can’t be ignored”

Greenpeace UK

“This is the last call for humanity’s journey to a liveable planet. From this point on, action on climate change can’t be kicked into the long grass. We’re now playing catch-up to limit the irreversible damage it will do.

“Every decision made by our government will have serious impacts on people’s lives and livelihoods. No longer can the UK government ignore the consequences of starting a new fracking industry, expanding aviation or failing to phase out polluting cars and deal with energy-wasting homes.

“As the room for mistakes shrinks and the cost grows, Theresa May’s government should rise to the challenge laid down by the world’s leading scientists and make Britain a true climate leader. Our children and grandchildren are watching and will remember.”

“Fracking is increasingly dangerous climate denial”

Keith Taylor Green Party MEP

“When climate scientists across the world are telling political leaders that the only way to avoid climate catastrophe is to remake the human world within a generation, it is unconscionable that the Tories are still pushing ahead with plans to fast-track the dangerous exploitation of new climate-destructive shale gas reserves. And planning to bypass local democracy in the process.

“Fracking has never been compatible with our binding climate commitments under the Paris agreement. Today’s IPCC report makes clear the brutal reality of the impact of global warming exceeding 1.5c. Failure to keep below that limit is assured if the Tories press ahead with fracking.

“Rather than jailing the fracking protesters heroically defending our planet and our future, Ministers must wake up and take urgent action to drop their support for the climate-destructive fossil fuel industry. Fracking is a form of increasingly dangerous climate denial.”

“We can’t have any new fossil fuels”

Fossil Free UK

181008 IPCC Fossil Free UK

“Why is UK fracking?

Frack Off London

“Today the IPCC stated to keep global warming to 1.50C in low-carbon energy technologies & energy efficiency would need to approximately double in the next 20 years, while investment in fossil fuels extraction and conversion decrease by a quarter. So why is UK fracking?”

117 replies »

  1. Keep on digging Jack but you are only fooling yourself.

    You still have not explained the reason why the 5 year chart is so important. It isn’t is the answer unless you were someone who invested 5 years ago and then lost money along the way since then. Is that your problem? If it is, then I am sorry for you, but it was not compulsory or impossible to avoid.

    Please keep your comments truthful. What was the recent floor, and what is the share price now? So, how can it be on the floor?

    Your comments about duping are very humorous. What do you make of someone suggesting he has financial backing to take his business private at over $400/share, and then it turns out he has not??

    Buyer beware is something to be considered for a lot of situations. I have no investment in IGAS.

    Penguin bars- a much better investment for the Antartic! They like a good time, just see Happy Feet.

    • MARTIN ,

      YOUR question is simple to answer.

      The 5 year share price chart for IGAS shows any potential investors how low the IGAS share price has dropped and equally importantly, it shows them how long this share has been skating along the floor .

      The 5 year chart gives a clear indication as to where IGAS has been , where it is now and a good indication as to where it potentially is going in the future .

      Doesn’t look good for IGAS does it ????

  2. I warned you not to go there Jack!!

    Silly.

    And the price increase today is what???? Maybe some bought a few shares gambling on the Temporary Injunction at Cuadrilla being lifted?

    Good weekend for them.

    Egg on face for Jack.

    • GENERAL CUSTERS LAST STAND

      MARTIN ,

      You know as well as I do , IGAS is on its knees . JUST LOOK as to how this company has performed over the last 3 years .

      For the third time , I ask you to Google ” Igas Share Price ” and click on the 5 year graph .

      I know you will want to close your eyes , but the indisputable evidence is stll there , IGAS is on its knees and has been for several years .

      Dead Cat Bounces on the back of a Cuadtilla victory is hardly a ” must invest ” sign for any rational thinking investor.

      The Cuadrilla PNR victory , although very bad for the local residents, is nothing more than a type of ” General Custers Last Stand ” for the industry .

      In the USA, an almost completely unregulated ” GUNG HO ” approach to FRACKING has still resulted in HUGE banktrupcies for industry AND that’s also been with the availability of endless streams of NEAR ZERO INTEREST RATE borrowing ..

      LOOK , JUST OPEN YOUR EYES MARTIN , do you honestly think FRACKING has a “Cat In Hells Chance ” of getting a foot hold over hear in the UK ?????

      To help you decide , please let me remind you of the obstacles, Fracking has in the UK.

      (1) Restrictive operating regulations
      (2) Restrictive waste regulations
      (3) Limits and restrictions as to what chemicals can be used
      (4) Interest rates creeping up
      (5) Politicians and the general public strongly against it .

      The costs are just too HIGH for the Fracking industry in the UK.

      I had advised you in one of my previous posts , not to be the last person to jump of the great ship ” FRACK TITANIC ”

      I’m now very concerned, that you are the ONE MAN BAND , determined to keep playing your music aboard the ship, as it slowly slips in to the water .

      Jack is throwing you a lifeline, quick jump and grab ahold, whilst you still have time.

      [Typo corrected by moderator at poster’s request]

      • What a load of cobblers you Obviously have gotten all your information from the protesters The Fracking process takes a few days to complete & then thats it you simply tap the well & have gas for the next 20 years Whats not to like ?

  3. Well, your colleagues reckon there will 1000s of lorries and 1000s of wells! Dead Sea Scrolls don’t seem to convince them.

    I think the Indians need to stop fighting amongst themselves. Remember what happened ultimately to the American Indians and the American settlers.

    I thought you must have been at Windsor, Jack as you missed todays fun!

    • MARTIN,

      Sadly, although I had no personal invite, I did catch part of the Royal Wedding on TV,

      YES , history is a wonderful thing and maybe we in the UK should be learning from the doomed, American Fracking history .

      As the great philosopher, George Santayana once said…….. Those Who Cannot Learn From History Are Doomed to Repeat it

    • HAHA, MARTIN ,

      I can only dream of such wealth and position in society. Although it does come with its drawbacks.

      To be honest, I’m very content with my position in society . It affords me unhindered freedom, freedom of speech and movement that the Royal family can never have .

      Just when I thought I’d closed all your doors regarding any possible reply , you always seem to come back with another angle , no matter how obscure it may be .

      Must remember , never to play a game of Chess for money with you ..

      I will sign of now for the weekend, allocate a little time for blood pressure reduction.

      BUT, as Arnie ( Terminator ) said , ” I’ll be back “

  4. Overrated. the effect the UK has on global warming is so little its almost insignificant. yet these green protesters keep Harping on like a broken gramophone record. about the Uk reducing its co2 emission. as if its going to have some great effect. its not. the world will not even notice. were simply just a tiny speck on the global scale. I just wish one of those boffins would produce a pie chart to show just how insignificant we realy are. But that would defeat their Argument.

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