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According to recent claims by experts, the UK海角吃瓜网檚 total offshore shale reserves could exceed 1000 trillion ft³, a figure five times the estimate for onshore reserves. Reserves of just 200 trillion ft³ would place the UK somewhere in the top 20 countries with the largest shale reserves, the revised figure would see the UK rise straight to the forefront of that list with an estimated supply similar to that of China or the USA.

Although the exact amount of the shale reserves that are actually recoverable is uncertain, many experts agree that the figure is highly likely to be enough to render the UK energy self-sufficient.

Melvyn Giles, Shell海角吃瓜网檚 head of unconventional gas and light tight oil, speaking about Europe海角吃瓜网檚 potential shale resources, said, 海角吃瓜网淲e have potentially huge volumes present in the subsurface 海角吃瓜网� the volumes are mind-blowingly big 海角吃瓜网� The figures appear to suggest the shale resources are so large that the question is not how much is out there, but how much can be retrieved 海角吃瓜网� how much can be economically assessed in an environmentally acceptable way.海角吃瓜网�

At present, in order for offshore shale operations to become economically viable, conventional oil prices would have to rise to US$ 200 per bbl. Though this may seem unlikely in the immediate future, some analysts have already pointed out that, 海角吃瓜网渨e海角吃瓜网檙e dealing with a finite resource, so it will happen.海角吃瓜网� Additionally, a UK parliamentary committee stated that, 海角吃瓜网淲hile these (costs) might be economically unviable at present, 海角吃瓜网榰neconomic海角吃瓜网� reserves can become economic quickly as technology and prices shift.海角吃瓜网� One source agreed saying that, 海角吃瓜网淚t海角吃瓜网檚 getting cheaper as the industry develops. If costs keep coming down, prices might not have to be so much higher to make the economics work.海角吃瓜网�

It was announced earlier this week that the temporary ban on onshore fracking in the UK had been lifted. The ban was originally enforced after fracking in northern England was connected to several minor seismic events.

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Edited from various sources by David Bizley

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