Letter: Communities could benefit from fracking funding

Third Energy will contribute 100,000 to the community.
Third Energy will contribute 100,000 to the community.

Further to the recent letters on fracking and the perceived negative effects on local communities I wanted to introduce something unusual to the debate – “A Fact”.

Here it is: When Third Energy start fracking they will contribute £100,000 to the community and will do the same for the other four to five wells that they have planned. Thereafter, they will contribute 1% of their annual gross revenues to the same community fund.

Given the current estimates of gas prices that would yield £70 million over the next 20 years. That’s the end of The Fact, it can now be interpreted as bribery on the one hand, or a unique opportunity for the community to fund every local community scheme they can think of for a generation in compensation for some temporary inconvenience – KM8 will require 50 days of activity, including a total of 25 hours of fracking.

Damian Loughran

Esplanade Road

Scarborough