Some Tory MPs and Labour are reportedly planning to get together to block the government’s plan to reintroduce fracking.
In another potential challenge to PM Liz Truss, MPs in constituencies where the controversial oil and gas production methods might be introduced have apparently contacted the Labour Party to form a joint front to block the proposals.
In September, Liz Truss’s government lifted an effective ban on fracking that had been in place since 2019 in an attempt to boost the UK’s energy security in the wake of the Ukraine war.
Shares prices of companies that would be able to start fracking have soared this year but fell sharply on the reports today.
IGas Energy dropped 10% to 47.6p, though it is still up 180% over the past twelve months, while Egdon Resources shed 15% to 4.05p.
Fracking or hydraulic fracturing, which sees rocks blasted apart under high pressure to release trapped gas or oil, was halted in the UK following two earthquakes at a site near Blackpool.
Speaking to the BBC, Business Secretary Jacob Rees-Mogg said there was no requirement for the government to have a vote on whether fracking gets the green light.
“The government doesn't have to give votes. There are backbench business debates, there are opposition debates, there are amendments," he said.
According to the BBC, many Tory MPs have expressed doubts about lifting the moratorium, with concerns ranging from how local consent might be measured to demonstrating that the technology involved had moved since 2019, which was a manifesto commitment.
One idea said to be under consideration by fracking opponents is to table an amendment to future energy or planning bills banning fracking, which would spark a vote.