UK MPs back shale gas
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MPs on the energy and climate change committee believe shale gas production in the UK could enhance energy security and boost tax revenues
However, in a new report, the committee warns that a shale gas revolution in the UK similar to that in the US, where hydraulic fracturing of shale rock to extract gas has sent gas prices plummeting, is unlikely.
The US industry has benefited from federal subsidies, a favourable regulatory regime, low population density and mineral rights for landowners, says the report, adding that the scenario for shale gas drilling in the UK is very different.
The MPs also warn that, if a substantial shale gas industry emerges it could put at risk the UK’s statutory climate change targets.
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