INEOS Shale, the shale gas development arm of INEOS, has revealed plans to begin carrying out seismic surveys in the next 18 months to try and determine the most suitable locations to explore for oil or gas below ground
Seismic surveys are a precurser to fracking in our communities – the industry does not spend this amount of time and money unless they have serious plans to carry out further exploration which will inevitably lead to production..
Despite claims in the past that shale production in the UK could reduce dometic fuel bills (claims which have later been withdrawn), Ineos need the shale gas as feedstock for their chemical production subsidiaries, and are currently importing shale gas from America to their Grangemouth facility in Scotland
With shale producers in America now starting to move into the ‘bust’ phase of the ‘boom and bust’ cycle, prices are now cheap enough for this to be a viable source of gas.
With our domestic scenario of cheaper gas prices dashed, could we look forward to debt destroying the fracking revolution that is threatening to come here?
If you manufacture your own chemicals then you can sell them to yourself (subsidiary) in order for them to be used for fracking. In effect you are creating your own new market for your own products. Also get involved in the “treatment” of NORMS and the ‘green’ recycling of the products that you have manufactured and you have pretty much bagged the whole process. One company getting richer and richer at each stage of the process, at our expense.