News

Fracking company is Barclays Bank

i Jul 31st 2 Comments by

“Barclays Bank is backing the search for shale gas in Yorkshire and could fund fracking in the area as early as next year [ie 2014!, The Sunday Telegraph can disclose.” (Nov. 2013)

Click to read article

 

“Third Energy, which is 97pc-owned by Barclays Natural Resource Investments, a private equity arm of the bank, took shale rock samples while drilling in Kirby Misperton, Ryedale, this summer and is now analysing their potential.”

“The company has drilling rights across a 154 square mile area around the Vale of Pickering, which sits above part of the Bowland shale formation.”

Source: Sunday Telegraph, November 2013

The article goes on to say that “The British Geological Survey estimates that 1,300 trillion cubic feet of shale gas lies within the Bowland, which stretches from Cheshire to Yorkshire. If 10pc could be extracted it could meet UK needs for 40 years.

The article fails to mention that similar “meet our needs for 40 years” estimates in California turned out to be huge over-estimates, with over two-thirds of Californians now supporting a halt to fracking. Neither does it mention that fracking is an approach that has ruined peoples’ lives (see videos on this site re USA and Australia), and that other less disruptive means of obtaining energy are also available.

The article also does not state that at Kirby Misperton, Third Energy exceeded its licence by drilling to 10,000 feet, when it only had planning permission to drill to 3,000 feet. (Source: presentations by Frack Free UK in Terrington and Hovingham on 16 and 17 July 2014.)

Those of you who bank with Barclays might want to consider writing to your bank and/or moving your accounts.

Barclays Natural Resource Investments

Comments

  1. Viola Woolcott
    July 31, 2014 at 16:49

    WHAT?? That’s outrageous!!

    Reply

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