shale energy south wales, page-9

Could this be what investors were waiting for in the UK? quote from Chancellor of the exchequer Osborne's autumn statement today.

The chancellor also confirmed plans to cut in half the taxes levied on "frackers" searching for shale gas which means energy companies stand to pay 30% not the standard production income tax of 62%.

"The country that was the first to extract oil and gas from deep under the sea should not turn its back on new sources of energy like shale gas because it's all too difficult," he said adding that there would be "a new tax allowance to encourage investment in shale gas that halves tax rates on early profits".