UK Rejects Another Shales Gas Project

British officials on Monday rejected another Cuadrilla Resources shale gas project in northwest England on the grounds of visual and noise impact, just four days after refusing a different shale gas planning application.

Cuadrilla’s project at Preston New Road near Blackpool could have become one of Britain’s first shale gas production sites, but the permit refusals demonstrate strong local opposition to unconventional gas production.

Britain is estimated to have substantial amounts of shale gas trapped in underground rocks and the national government has been supportive of developing these reserves to counter declining North Sea oil and gas output.

However, progress has been slow because of local opposition to hydraulic fracturing — or fracking — due to environmental and health concerns.


Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza