Cameron: UK can woo businesses back to UK with 'cheap' shale gas.

Business Green: “David Cameron is expected to use the promise of cheap shale gas to lure big manufacturers to the UK, despite his own ministers and advisors suggesting the controversial energy source will not lower bills in Europe.”
“….the prime minister will use his speech at the World Economic Forum in Davos to encourage UK businesses that have relocated to Asia to “reshore” to Britain.
Cameron will tell delegates at Davos this morning that fracking could be a “fresh driver” of UK and European growth, by delivering similar low prices already seen in the US as well as energy security.
“There is no doubt that when it comes to reshoring in the US, one of the most important factors has been the development of shale gas, which is flooring US energy prices, with billions of dollars of energy cost-savings predicted over the next decade.” he is expected to say.”
JL comment: The notion that repeating the American shale experience in the UK can lead to cheap gas is an illusion for three reasons. First, the American gas industry is losing money on shale hand over fist, and the whole boom may yet turn out to be a bubble. Second, his own voters won’t tolerate the gross industrialisation of rural Britain, even if bribed. Third, he cannot be serious about climate change and also frack yet more fossil fuels when we already know that the majority of existing reserves cannot be burned if we are to avoid economically ruinous climate change.