Sky News: Controversial Shale Gas 'Could Boost Britain'
Shale gas production could reduce Britain’s dependency on imported gas and create new jobs, according to a report by the Institute of Directors.
The report claims that shale gas, also known as fracking, is the only way to offset the effects of the increasing reliance on imports.
Without the development of new domestic gas resources, Britain's import costs for natural gas could rise from £5.2bn today to more than £6.7bn by 2015.
This will happen as North Sea supplies dwindle and Norway struggles to fill the gap. Britain was a net exporter of gas until 2004.
The IoD said: "Shale gas development can counter falling North Sea production, halting the increase in gas imports. It can also help to reduce price rises for consumers."