Energy Bill [Lords]
Debate between Simon Hoare and James Cartlidge
James Cartlidge
That is the point I am making. If there is a lot of hysteria about a sector, it can be very difficult to achieve a rational, objective decision. Let us not forget that the whole point of planning applications is that they must be considered in a semi-judicial and balanced fashion. That might not be possible—that is just a statement of fact—and yet, strategically, we need that industry. That is my view. I know it is divisive and that not all hon. Members share that view. As I have said, if I were an MP in Lancashire and had the problems that some of my hon. Friends have had, it would be difficult to cope with that pressure, but there is no doubt that shale has huge strategic potential.
Simon Hoare (North Dorset) (Con)
Does my hon. Friend share my view that, with the plummeting price of oil and while the oil price is as low as it is, there is no way that the OPEC countries will allow another country to develop a commercial fracking enterprise, and therefore that the costs associated with the planning process, land acquisition and so on will not present a sufficient dividend on the investment to support a UK fracking sector?
James Cartlidge
That is a very interesting question and I am not sure I am qualified to comment. I saw in some of the City commentaries today the first predictions of US shale production falling in response to the price of oil and predictions that they will go lower.