Underground Coal Gasification Company wound up
Underground Coal Gasification (U.C.G.) company, Five Quarter Energy is being wound up. The company has failed in its 8 year project to begin setting light to coal seams in Northumberland.
The collapse of Five Quarter adds to a lengthening list of companies involved in extreme energy which are failing or under investigation for crimes against the environment. Typically, fracking and related ventures require a certain commodity price to become profitable, since these methods of energy extraction are inherently expensive.
At Frack Free Somerset we predict the failure of more firms as the Fracking bubble bursts in the face of the inescapable economic truth – Fracking is simply not worth it!Posted on: March 8, 2016