Page 22 - Gi flipbook February 2018

WILL BREXIT MAKE UK

FRACKING A REALITY?

By Mike Seed, Product A NEW ENERGY CRISIS? the Office of Budget (OBR)
Manager at Elementar UK Britain has not relied on imported downgraded its forecast for offshore
energy on this scale since the energy receipts by 37 per cent to £4.6 billion
ver the last decade, crisis in the 1970s, according to data for the next five years.
imports of energy from the Digest of UK Energy statistics Away from fossil fuels, the UK faces
from the continent (DUKES). The same data reports that additional pressures in the renewable
and beyond have in 2015, the UK imported 40 per cent sector. It has been widely reported
O steadily increased. of its energy from overseas, with the that the UK government will fail to
Several factors have caused this, other 60 per cent coming from meet the ambitious target set by the
with one of the most prominent national energy sources such as fossil EU, where 20 per cent of all energy
being the decline of North Sea fuels, nuclear, and other biofuels. consumed by the UK has to be from a
oil. Coupled with the UK The status of North Sea oil remains renewable source by 2020.
government’s admission that they a bit of a mystery – and it conflates Speaking to The Guardian, Dr Robert
are set to fail to reach the 2020 an already troubling picture of the Goss, Director of the Centre for Energy
renewable targets, Britain faces a UK’s energy problem. Depending on Policy and Technology at Imperial
significant energy deficit. what newspaper you read, what part College London, blamed failure to
To meet this shortfall, the of the UK you sit in or your political meet the 2020 target on government
government has brokered deals with leaning, North Sea oil is either in its policy. He said the government’s
energy suppliers all over the world, “death throes” or “an area that keeps decision to effectively end public
meaning the UK is at the mercy of on giving”. support for onshore wind and to slash
foreign energy providers. As such, Despite what may or may not be support for solar and offshore wind
the UK can be sensitive to the case, one thing is for certain; were the biggest factors in missing the
geopolitical issues that may impact North Sea oil production has declined 20 per cent target.
energy supply and demand. rapidly since it peaked in 1999 and the
Brexit could represent an coast of Scotland is beginning to see BREXIT AND TACKLING TARIFFS
opportunity for the UK to resolve its decommissioning operations take To compound Britain’s energy woes,
energy issues. In this article, we will place. It has decimated the Scottish there is the matter of dealing with the
explore the potential energy crisis economy and quite famously biggest legislative change the UK has
Britain finds itself on the cusp of, and weakened the Scottish National faced in a generation – Brexit. The
what can be done about it. Party’s case for independence, when UK’s exit from the EU will have a

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