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xchrom

(108,903 posts)
Mon Jun 30, 2014, 06:18 AM Jun 2014

Scotland Has Billions of Barrels of Shale Deposits, Report Says

http://www.bloomberg.com/news/2014-06-30/scotland-has-billions-of-barrels-of-shale-deposits-report-says.html


Edinburgh Castle stands on the horizon beyond the illuminated face of the Balmoral.


Scotland may have billions of barrels of shale oil and gas buried under the country’s most densely populated areas, geologists said today.

Scotland’s central belt, running between Glasgow and Edinburgh, may have 80.3 trillion cubic feet of gas in place and 6 billion barrels of oil, a report by the British Geological Survey said. While it’s not an estimate of how much can be extracted, if only a fraction of that amount was drilled it could transform prospects for Scottish oil and gas output.

The oil and gas industry is central to the debate on Scotland’s independence before a referendum in September. The yes campaign says existing fields in the North Sea will underpin the economy of an independent Scotland, while supporters of a no vote say declining production from offshore reserves leaves the country vulnerable.

The U.K. government is offering tax breaks to shale drillers to spur development of the resource as North Sea reserves dwindle The Bowland basin in northern England may supply local natural gas demand for half a century at extraction rates of 10 percent similar to U.S. fields, according to a report last year.
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Scotland Has Billions of Barrels of Shale Deposits, Report Says (Original Post) xchrom Jun 2014 OP
I would like to think postulater Jun 2014 #1
+100 Frosty1 Jun 2014 #2
Ditto dipsydoodle Jun 2014 #3
"it's Scotland's--" *fireball* MisterP Jun 2014 #4
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