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Government pledges £36m to boost shale gas industry

i Dec 5th No Comments by

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Chancellor George Osborne’s final Autumn Statement said the government would be “taking steps to ensure that the UK leads the way with shale gas regulation” by allocating £31 million in funding for “sub surface research test centres” as well as £5 million in funding to better engage with the public on the shale industry’s regulatory process.

The test centres, to be funded through the Natural Environment Research Council, will produce research relevant to both the shale and carbon capture and storage industries, the statement said.

The government will also fund a £5 million drive to “ensure the public is better engaged” with the shale development regulatory process through independent evidence on “the robustness of the existing regulatory regime”.

In addition, Osborne confirmed plans to establish a long-term investment fund for communities in the north of the country hosting shale development using revenue from shale tax to ensure that the economic benefit to the area continues for generations.

So the government are cutting public spending to its lowest level since the 30s, but have given the shale gas industry £36 million of taxpayers’ money. Sounds fair …

Read more in Utility Week – amazingly, hardly reported in the mainstream press. Actually, not that amazing …

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