Issue Date: January 20, 2014
U.K. Approves Fracking
In a decision welcomed by the U.K. chemical industry, Prime Minister David Cameron says he is “going all out for shale.” Cameron predicts that recovering natural gas from shale using the drilling process known as hydraulic fracturing, or fracking, could generate 74,000 jobs, attract more than $4 billion in investment, and provide cheaper energy.
To encourage fracking, Cameron is permitting local governments to keep 100% of the business taxes, some $3 million . . .
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