Kilian Bizer (Chair of Economic Policy and SME Research, Germany)
Tuesday 1st May 2012 - 4:00pm
Room 1.65, Glamorgan Building
Afternoon seminar series hosted by the Environment Research Group.
Hydraulic Fracking (or Fraccing) is a relatively new technology to extract gas from unconventional sources such as shale. While some see enormous economic potential such as £ 70 billion in Wales alone, others see it as “a recipe to fry planet earth” (see Walesonline June 11, 2011). Fracking is used in the US, banned temporarily in France, Austria and Romania and controversial in the UK, Germany, Netherlands and Poland among others.
This presentation summarizes environmental and health risks connected to fracking as well as potential economic gains to regional development. Existing evidence for potential losses and gains is collected and changes in public planning processes as well as mining law suggested improving sustainable development. As fracking affects communities throughout the country acceptance of fracking technology is crucial for public approval of drilling sites. Innovations such as fracking must be safeguarded by regulations which provide strong incentives for clean technology.