Shale gas development could create tens of thousands of jobs, reduce imports, generate significant tax revenue and support British manufacturing.
The sixth report in the Infrastructure for Business series, ‘Getting shale gas working’, studies the lessons of previous energy developments, investigates the economic impacts of large-scale shale gas production, and sets out practical steps for both government and industry.
The UK has not had many positive energy stories in recent years, but the discovery and exploitation of the country’s potentially huge shale gas reserves could prove to be just the boost the economy needs. The IoD believes that the UK has a major opportunity to develop a cheap and reliable domestic source of energy, creating jobs, reducing the need for gas imports and improving the environment by replacing coal in electricity generation.
Cheap gas-fired turbines powered by UK shale resources could also prove to be the perfect complement to renewable generation, providing power when the
wind isn’t blowing and the sun isn’t shining. The IoD hopes that the Government’s forthcoming gas generation strategy will be similarly enthusiastic about what could be a vital part of Britain’s future energy mix.
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