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United Kingdom: Fracking: tax breaks raise questions over agenda for tackling climate change
2013-07-19 01:57:00| Climate Ark Climate Change & Global Warming Newsfeed
Guardian: Providing tax breaks to the frackers can be justified by the government as a way of trying to develop an industry that could eventually provide Britain with lower-cost and lower-carbon energy if all goes fantastically well. In the US, the shale "revolution" has cut natural gas prices by almost 75% and allowed a reduction in carbon emissions as gas has displaced coal in the generation of electricity. But that coal has been exported to Britain and Germany to be burned over here. A new domestic...
Tags: change
questions
united
kingdom
George Osborne unveils 'most generous tax breaks in world' for fracking
2013-07-19 01:16:00| Climate Ark Climate Change & Global Warming Newsfeed
Guardian: George Osborne has infuriated environmentalists by announcing big tax breaks for the fracking industry in a bid to kickstart a shale gas revolution that could enhance Britain's energy security but also increase its carbon emissions. The Treasury has set a 30% tax rate for onshore shale gas production. That compares with a top rate of 62% on new North Sea oil operations and up to 81% for older offshore fields. So far, no shale gas has been produced in Britain, but exploratory drilling is under...
UK announces huge tax breaks for fracking firms
2013-07-19 01:00:00| Hydrocarbons Technology
The UK Chancellor of the Exchequer George Osborne has announced an unprecedented tax break for the fracking industry in an effort to increase Britain's energy security.
United Kingdom: Fracking companies should not get tax breaks, says No 10 adviser
2013-07-18 21:16:00| Climate Ark Climate Change & Global Warming Newsfeed
Guardian: Shale gas fracking companies should not be granted tax breaks, a leading Downing Street adviser has said, because their operations are likely to be profitable without such incentives even as the government prepared to offer developers a new "pad allowance" for the wells they drill, to encourage more of the controversial exploration. Peter Lilley, the climate sceptic Tory MP who is an adviser on foreign policy in No 10, said in a debate on shale gas in Westminster Hall on Thursday afternoon:...
Tags: united
kingdom
companies
says
As Bakken Breaks Production Barriers, Companies Struggle With 500-Well Backlog
2013-07-16 19:00:00| OGI
Completion times continue to lengthen as logistical challenges mount.
Tags: companies
production
breaks
struggle
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