Shale gas in Britain

“It is no exaggeration to state that shale gas
could transform the prospects for the entire British economy – turning the
country into a major energy exporter for many decades, reducing costs to
consumers, and attracting new industry through abundant cheap power.

“‘We don’t want any subsidies. This is a
sustainable business’, says Vaughan.

Shale gas production could create thousands of
jobs directly, and provide many billions in tax revenue – as it is already doing
in Texas, Pennsylvania and several other states in America.

It could also fill the looming black hole in
Britain’s electricity generating capacity, the result of old coal and nuclear
power stations being decommissioned: burnt in modern ‘combined cycle’ plants,
shale gas plants would emit only 37 per cent of the carbon dioxide produced by
their coal- or oil-fired predecessors.”

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