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.