Diana Furchtgott-Roth writes in Forbes on the UK’s decision to ban fracking again.
- The UK’s new prime minister Rishi Sunak has announced that the country will halt investments in fracking, a week after former prime minister Liz Truss opened fracking up for business.
- Fracking has allowed the United States to maintain energy security while reducing emissions more than any other country in the world.
- Reducing the country’s supply of energy is ill-advised, given the UK and Europe’s energy crisis.
- Rather than restricting production, Sunak should look to unleash all energy sources.
“Additional energy development would lower electricity and gasoline bills, giving people more income. It would give the UK independence from friendly energy producers, such as the United States, and unfriendly ones, such as Russia and OPEC. As the UK moves to reduce its budget deficit by cutting spending and increasing growth, using its existing energy resources should be an important part of the package.”
Read the full article here.