Tuesday, 2 October 2012

IoD: 'Shale gas could create 35,000 UK jobs'


Exploiting the UK’s shale gas reserves could create 35,000 jobs and help to meet carbon emissions targets, according to a new report from the Institute of Directors.

Britain was estimated to have onshore shale gas reserves of 5.3 trillion cubic feet in 2010, but the British Geological Survey is expected to revise that number higher, the IoD said.

The new report assumes the UK will only be half as successful as the US at shale gas production, but even on that basis, the IoD said the country could meet 10pc of its gas demand for the next 103 years from shale, as well as creating 35,000 new jobs.

A survey of the business group’s members also showed support for shale gas development.

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