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Deteriorating Energy Security: Why MPs Should Save Fracking

An amendment to the Infrastructure Bill introduced today would effectively ban fracking on environmental grounds. If this amendment is passed it would reduce energy security and would be a disgraceful failure duty by MPs who are supposed to defend Britain’s economic well-being.

The UK’s domestic production of primary fuels fell by 31% between 2009 and 2013 and the trend appears to have continued in 2014. In the third quarter of last year, the UK’s total energy production fell by 4.6% compared to the year before; this was mainly due to a fall in oil production. According to the Department of Energy and Climate Change (DECC), the UK’s net energy import dependency has now climbed to 48.7%. This is of particular concern because this rise in energy import dependency reflects almost entirely a fall in primary energy supply rather than an increase in imports. The free trade of energy is of course desirable but it is also clear that the health of the British economy is increasingly vulnerable to disruptions in energy supplies abroad. The UK must embrace new domestic energy production, including through fracking, if it is to boost security of energy supplies.

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Adam Memon, Angeliki Terpou and Tim Knox - Monday 26th January 2015

Adam joined the Centre for Policy Studies as Head of Economic Research in January 2014. 

Adam joined the Centre for Policy Studies as Head of Economic Research in January 2014. 

Angeliki Terpou is an energy economist and the author of ‘Britain’s deteriorating energy security and why we must frack’.

Tim Knox was Director of the CPS from 2011-2017. Before he was Director, Tim was the Editor at the CPS - a position in which he was responsible for publishing papers by every Conservative leader since Mrs Thatcher as well as by hundreds of leading academics and opinion formers.