This morning former Chancellor Nigel Lawson has penned an article in the Daily Mail which promises us all a very bright future owing to massive layers of shale which contain a huge amount of natural gas and oil According to Lawson the breakthrough of technology which now allows us to extract this fossil fuel could change the balance of power in the world today.
This feat has already massively reduced the price of gas in the States and China is planning a huge operation to extract their share of the new find. What a difference this could make to our economy and you would think that with the absence of good news in recent years it would be welcomed.
You would be wrong. Step forward the Minister for Energy Lib Dem Ed Davey who claims that it won't cheapen the price of gas, it won't happen tomorrow and it is too early to predict the amounts involved. After all we can't let the people be happy about anything can we?
Contrast the optimism of Nigel Lawson with the attitude of an environmentalist from the Guardian called Damian Carrington. Already the battle lines are being drawn but my thoughts are that if this technology has been successful in the States and is being explored by the Chinese we cannot ignore it.
Yes it might upset the europhiles and the environmentalists but the benefits far outweigh their concerns. We must just ensure that this time the public enjoy the fruits of this lucky find and the profits do not all end up in the pockets of shady shareholders and even shadier politicians.