Shale oil has a place in the British energy mix, but exploitation will require environmental safeguards and industry expertise, a government agency said. The future of British energy is uncertain given the downturn in the global oil sector and maturation of fields in the North Sea. Oil & Gas U.K., the industry’s lobbying group, said the North Sea oil sector is in for a long period of decline, with less than $1.4 billion in new spending expected in 2016. The British Geological Survey, in coordination with the Oil and Gas Authority, said Thursday it completed a study of the shale reserves locked in the Weald basin in the southeast of the country. According to the […]