How to solve Britain's fracking problem

There's only one way the government can sell fracking to the public, says Matthew Lynn - give landowners mineral rights.

As someone who owns a field in the Kent Weald, I may no longer have a dispassionate interest in the shale gas debate. Whether there is any energy underneath all the brambles, I have no way of knowing. But the MP for nearby Sevenoaks, Michael Fallon, has already speculated that the rich seams of gas discovered in nearby Sussex may well extend to this county as well. The local Green party is already up in arms, challenging local MPs to state whether they support fracking or not, no doubt hoping to stir up some political trouble for them. So it is by no means impossible.

Instinctively, I'd be more than happy to sell my field to anyone who wants to throw up a few rigs on it. I'm as keen on making a quick buck as the next person. There is a problem, however. Under existing UK law, I don't own the mineral rights under the field the government does (this doesn't apply to all minerals, but it certainly does to petrochemicals). And that makes me a lot less keen to invite the drillers in.

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Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.