Reported in UK The Telegraph, Wednesday Dec 5:
Autumn Statement: Shale gas 'could help UK by 2020s’
Shale gas could make a “substantial contribution” to UK gas supplies from the 2020s and its development will be overseen by a dedicated Office for Unconventional Gas and Oil, it was revealed on Wednesday.
George Osborne unveiled plans in the Autumn Statement for the new office to oversee the nascent UK shale gas industry as he confirmed he was looking at tax breaks to encourage its development.
Shale gas is controversial because of the extraction process, known as “fracking”, which was suspended in the UK after causing two small earthquakes near Blackpool last year.
Energy secretary Ed Davey is expected to give the green light next week for the company involved, Cuadrilla, to resume operations.
Mr Osborne said the new office would ensure “that regulation is safe but simple”.
A shale gas boom has transformed US energy markets, sending gas prices to record low levels.
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