28 Apr '13, 3pm

Looks like shale gas extraction will get a boost in the UK following Committee report.

Looks like shale gas extraction will get a boost in the UK following Committee report.

This is the conclusion of a new report from the Energy and Climate Change Committee, though committee chairman, Tim Yeo MP believed it was still too soon to call whether shale gas will provide the silver bullet needed to solve our energy problems. "Although the US shale gas has seen a dramatic fall in domestic gas prices, a similar ‘revolution’ here is not certain. If substantial shale resources do turn out to be recoverable in the UK - and community concerns can be addressed - then it could limit future energy price rises, reduce our reliance on imported gas and generate considerable tax revenues. “The Government has dithered on this issue and should now encourage companies to get on and drill, to establish whether significant recoverable resources exist. Ministers should be careful, though, not to base energy policy on an assumption that gas prices will fall in future as...

Full article: http://www.dpaonthenet.net/article/57910/Parliamentary-co...

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