With news that the USA is ‘forging ahead with a plans to boost oil and gas exports’, the country is set to become the world’s biggest oil producer this year.
The sudden jump in production has been largely driven by the process of hydraulic fracturing, or fracking, whereby pressured liquids are used to extract oil and gas from shale rocks.
The drive for more environmentally friendly worldwide energy policies hit a major bump in the road last month when the USA announced plans to pull out of the Paris climate accord.
The agreement was drawn up within the United Nations Framework Convention on Climate Change (UNFCCC). It is due to kick off in the year 2020, responding to the growing climate threat with greenhouse gas emissions mitigation, adaptation and finance. In short, it has become a key building block in the global fight against climate change.
Prospects of Britain facing blackouts are “scare stories” which need to stop. That’s according to Steve Holliday, the former boss of National Grid, who believes the nation has enough electricity capacity to meet demand even during peak times.
His comments come as the latest round of capacity auction for power generation begins.