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The Prime Minister has told the World Economic Forum that Europe needs to “embrace the opportunities of shale gas” to ensure the continent “can benefit from the next phases of globalisation”.
David Cameron told delegates in Davos, Switzerland, if shale gas is developed it will help with the “re-shoring” of jobs, as businesses return to the UK and other European countries.
He highlighted the impact shale gas has had in America in reducing industrial gas prices to about one quarter of those in Europe and in helping to create a million more manufacturing jobs.
Cameron added the “message is clear” that “we need the right regulations” to develop shale gas in a sustainable way and that “if this is done properly, shale gas can actually have lower emissions than imported gas”.
The Prime Minister also told delegates of the importance of “cheap and predictable sources of energy” in getting businesses to relocate to Europe, and the shale gas is part of this.
He added renewables “are a vital part of our future”, highlighting the work of the Green Investment Bank, and he also said “we need nuclear energy as part of that energy mix too” to ensure the “safety of energy supplies”.
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