IoD welcomes the approval for fracking in Lancashire
In response to the Communities Secretary’s approval of plans for fracking in Lancashire, Dan Lewis, Senior Adviser on Infrastructure Policy at the Institute of Directors, said:
“This is good news for Lancashire and the country. IoD members have called for years for more long-term thinking to meet Britain’s energy needs, and fracking – just like renewables – is clearly going to have to be part of that mix. UK PLC benefits from having competitively-priced secure energy from home. So shale, if it can be produced at scale and at the right price, has a big role to play. The potential local supply of natural gas liquids as well as shale gas could be transformative to the future of our regional petrochemical and heavy industries.
“It is however still very early days for exploration. This particular firm has shown considerable patience navigating the UK’s outdated, multi-layered planning and regulatory system over the last few years. We certainly can’t expect all other players to do the same in the future. There is now an urgent requirement to streamline and speed up the process.”