U.K. Approves Fracking | January 20, 2014 Issue - Vol. 92 Issue 3 | Chemical & Engineering News
 
 
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Volume 92 Issue 3 | p. 9 | News of The Week
Issue Date: January 20, 2014

U.K. Approves Fracking

Shale Gas: Prime Minister supports natural-gas-extraction method, big oil company already invested
Department: Business
News Channels: Environmental SCENE
Keywords: fracking, U.K., license

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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