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    Osborne is......................

    Courtesy Guardian................

    George Osborne unveils 'most generous tax breaks in world' for fracking

    Environmental groups furious as chancellor sets 30% rate for shale gas producers in bid to

    enhance UK energy security

    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 way and the

    British Geological Survey recently whetted prospectors' appetites by revealing there could be

    huge resources waiting to be unlocked, possibly enough to supply the country for 25 years.

    The beginnings of another bunch of Elite Greedy Pigs...?

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