Submitted on Friday 13th July 2018
Published on Friday 20th July 2018
Current status: Closed
Closed: Sunday 20th January 2019
Signatures: 33
Tagged with
Economy ~ Tax ~ UK ~ UK economy
Increase the funding and support for the production of shale gas by fracking
Fracking has the potential to boost the UK economy. It will increase job opportunities, lower imported fuel, whilst bringing a higher tax revenue with greater energy security.
The production of shale gas would reduce volatility within the wholesale market.
Local communities would see significant benefits from fracking economically with an increase of job opportunities. The first 100 sites could create 74,000 jobs.
Local communities which host sites will also be rewarded more directly. In June 2013, UKOOG announced its first industry-wide community benefits scheme where the local community will benefit to the sum of £100,000.
The industry estimates that it could add up to over £1.1bn in a 25 year period or about £5m to £10m per site.
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