In a meeting last May, the Onshore Energy Services Group (OESG) said raising money to develop a wide-scale fracking infrastructure was proving difficult. Fracking companies in Britain admit they are struggling and suffering to secure finance.
The polluting industry are finding it a challenge to get support from British banks, all funding therefore comes from overseas and self growth according to the OESG. The trade organization also raised concerns that if fracking takes off, supply chain companies won’t be ready to provide the equipment needed to build the infrastructure to support the industry.
OESG told the government that the business must be done by making individual “fracking sites” operational, but that the “social license” would be more important when the industry scales up. In other words, getting public support will be key. The business goes nowhere if companies are fought at each stage to accomplish there goals.
However, without finance, the fracking is simply not going to happen in the UK. This is a very important point, and shows exactly why the USA had a shale revolution, because the banks were willing and happy to lend to frackers. NGO’s say they have convinced the world, that fracking is dangerous, and nothing is going to change that.
BBC / AA Magnum News 2017.