The Anonymous Widower

Fracking For Freedom

In this post, I said that Iceland can help us overcome energy shortages, caused by the problem of Putin.

Today in an article in the Sunday Times, Jim Ratcliffe, the boss of chemicals giant Ineos is saying that he would pay landowners and communities £2.5billion. Here’s what the Sunday Times says.

ONE of Britain’s richest men hopes to trigger a shale gas boom by giving away billions of pounds to landowners and communities affected by fracking.

Jim Ratcliffe, the 61-year-old Lancastrian who founded chemicals giant Ineos, has promised to hand over 6% of the revenue from oil and gas wells — 4% to landowners and 2% to local communities — in an effort to jolt the moribund industry into life. The offer would equate to £375m for a typical exploration area of 36 square miles, and goes far beyond the 1% giveaway to which the industry has committed. Ratcliffe estimated the offer could be worth £2.5bn in total.

I would never be affected by fracking here in Central London.

But if we could get all our energy supplies without resorting to those basket cases of Russia and the Middle East, we wouldn’t be in bed with some of the nastiest regimes in the world.

September 28, 2014 - Posted by AnonW | World | Energy, Russia