May 08, 2014

Councils investing pension funds in fracking companies

May 08, 2014/ Sussex Campaigner

Finally hitting the mainstream media is the news that Councils across the UK have a conflict of interest by investing pension funds in the same companies wanting to frack....

http://www.independent.co.uk/news/uk/politics/exclusive-local-authorities-have-conflict-of-interest-on-fracking-investments-9294590.html

Oh dear, seems West Sussex County Council has indirect holdings in Cuadrilla via substantial investments, currently worth £3.5m, in Centrica, the parent company of British Gas – which last year took a 25 per cent stake in Cuadrilla's Lancashire operations.

Could this be why they have recommended Cuadrilla's Balcombe reapplication for approval despite overwhelming public opposition?

Surely not ...

Frack Free Sussex

Government plans to allow fracking for gas and oil across the Sussex Weald. To be economically viable this would require thousands of wells to be drilled across our county. Our downland, meadowland, farmland and woodland would be subject to wide-scale industrialisation.

In the USA, towns near fracking sites have seen cancer rates rising, water supplies running out and the poisoning of land, livestock, pets and people by hazardous air pollutants. Water that was once pristine is now so contaminated with methane that it can be set alight. Industry studies show 5-7% of all new oil and gas wells leak and ALL wells will leak eventually.

Our water supply, which comes predominantly from the chalk aquifer, would be threatened.

Property values are falling in areas near drilling sites.

Even the energy secretary says fracking WON’T REDUCE ENERGY BILLS.

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Councils investing pension funds in fracking companies

Frack Free Sussex

Government plans to allow fracking for gas and oil across the Sussex Weald. To be economically viable this would require thousands of wells to be drilled across our county. Our downland, meadowland, farmland and woodland would be subject to wide-scale industrialisation.

donations welcome

YOU CAN ALSO DONATE YOUR time and ENERGY!