“Getting Shale Gas Working”

Fracking (Image courtesy of the BBC)

According to the Institute of Directors, Britain’s shale gas reserves could be a “new North Sea for Britain”. Shale gas reserves in Britain could meet more than a third of annual gas needs and reduce dependence on imports as well as generate significant tax revenues.

A report released on the 22nd May this year sets out the practicalities needed to build a fully functioning industry. Corin Taylor, senior economic adviser at the IoD and author of the report states, “It is important to spell out what could be possible…otherwise there is a danger we will not address all the challenges to make it happen”.

Ministers are currently preparing to announce new tax breaks for shale gas and increased estimates of new UK reserves next month.

An outline of the full report can be found here: “Getting Shale Gas Working”

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