UK Proposes to Frack One-Half of Great Britain
Source: EcoWatch
As the rapid expansion of fracking in the U.S. has led to a growing chorus of concerned voices about the potential health and environmental repercussions of this activity, news has surfaced that the European Union (EU) has taken significant steps toward removing fracking in Europe.
In a conversation with Polish Prime Minister Donald Tusk, British Prime Minister David Cameron confirmed that he will work to ensure fracking access to Europe.
This acknowledgement comes at a time when the EU is debating strengthening its carbon-trading system. The EU has recently moved to delay the selling of 900 million carbon allowances, which is likely to raise the prices of carbon allowances by 10 to 15 percent.
The withholding of carbon allowances—which is a publicly-tradable certificate that “offsets” or pays for the carbon dioxide a company releases into the atmosphere, with each certificate representing a metric ton of the gas—is thought to raise the prices on energy production, as companies must spend more to control their emissions.
Read more: http://ecowatch.com/2014/01/13/uk-proposes-to-frack-one-half-great-britain/
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