Shale will mean MORE money for local services
The planned Shale Wealth Fund will mean that at least 10% of the tax proceeds of shale wells will go to local communities, and there are plans for this proportion to increase. This could deliver as much as £10m to local communities with wells located nearby.
US study finds that unconventional shale gas and oil developments increase house prices by 5.7% on average
A wide-ranging study by influential economists from the Massachusetts Institute of Technology, the National Bureau of Economic Research and the University of Chicago, found that mean and median housing values for owner-occupied homes rose by 5.7% in areas where there was unconventional shale gas and oil wells. The real threat to house prices is from noisy and disruptive protestors.
Shale gas and oil could REDUCE energy and fuel costs
Importing energy from abroad involves significant extra costs. Developing a domestic resource will reduce import costs and provide greater security of supply for the UK energy market. In 2016, it has been estimated that fracking added $1,000 to the average American household’s disposable income, compared with 2014.
Green campaigners have been spreading myths about shale
Earlier this year, Friends of the Earth were forced by the Advertising Standards Agency to withdraw a leaflet as it contained unsubstantiated claims about hydraulic stimulation.
Shale extraction is safe and clean
In the United States, where the industry is well established, surveys by the Environmental Protection Agency and the US Geological Survey have found that the technique does not contaminate water supplies. The UK Government’s former Chief Scientist, Prof David McKay, has concluded that the carbon footprint of UK shale gas extraction is less than imported Liquefied Natural Gas and four to five times less than coal.
Shale will bring investment and jobs to your hometown
It has been calculated that the onshore gas and oil industry could directly support 64,500 jobs nationwide, and £33bn of additional investment.
Current regulations provide the strongest possible protections
Existing rules require shale operations to be discontinued if they cause a tremor above 0.5 on the Richter scale. Dr Rob Westaway, of the University of Glasgow, has said: “If regulations for other vibration-causing activities were similarly restrictive, you’d have to prevent buses from driving in built-up areas or outlaw slamming wooden doors.”