John Browne: costly subsidies for renewables & the great prize of shale gas.

September 17, 2012 Clean Energy, Gas, Oil 

In the FT: “The very real threat of dangerous climate change necessitates a shift from hydrocarbon fuels towards low-carbon inputs. Nuclear was once seen as a strong alternative but persistently high costs and environmental opposition are making it less important.”” Instead, we must continue to develop renewables but with an eye on rising opposition to costly and seemingly unending subsidies. There is a role for government in kick-starting low-carbon technologies but they must eventually pay their way.” UK shale gas: “the prize is substantial: a reduction in costly imports, improved energy security and perhaps lower prices for households and businesses – all of which have occurred in the US. It could also deliver a much-needed boost to industry, making Britain a leader in Europe in the provision of shale gas technology. But critically, it is another stepping stone to a low-carbon energy sector.”

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