UK financial chief backs shale gas and renewables in speech

UK Chancellor of the Exchequer George Osborne announced investment in both renewable energy and new shale gas projects, linking the power sources to his commitment to an enterprise strategy.
George Osborne
During his speech Mr Osborne mentioned "investing in renewable energy and opening up the shale gas reserves underneath our land", before emphasizing once again a preference for gas as a key component for Britain’s energy future.

The chancellor said that a "generous new tax regime for shale gas in the UK", designed to ensure the UK can match falling gas prices in the US.

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