Friday, 19 July 2013

UK again - Govt to subsidize the frackers

We hear today from a source close the BBC that the current UK Government are to give generous tax breaks in favour of fracking............

Tax cut for shale gas firms planned

The government has outlined plans to give tax breaks to companies involved in the UK's nascent shale gas industry. It has proposed cutting the tax on some of the income generated from producing shale gas - found in underground shale rock formations - from 62% to just 30%. (No surprises there then!)

The plans would make the UK the "most generous" regime for shale gas in the world, the government said. But they have been criticised by environmentalists, with Friends of the Earth calling them a "disgrace".....................

Read the BBC report here

NB This is effectively the opposite of giving direct support to the urgent development of renewable sources. It will however, suit perfectly the money-grubbers in the industry and their governmental sidekicks who clearly do not give a damn about the environment in an already pock marked landscape, nor the living conditions of those in communities soon to be affected nor the lot of coming generations.

The ongoing debate on the BBC and elsewhere about the merits or otherwise of this dirty process ( emissions actually worse than for coal when everything is factored in ) would now seem largely academic. And still there are those who have not taken the time to watch even the first ( five year old ) version of GASLAND let alone check out aerial views of Pennsylvania and prefer to rely on the UK press ( God help us! ) for a 'balanced' debate.

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