Just one caveat, this would be everywhere in America except in New York where we have a much better progressive program of sticking our heads in the ground to demonstrate against fracking with the anti progress and job folks cheering outside the governors office. JLCpulse
by Gillian Tett, 13 October 2014 in Business Day
THIS winter Jim Ratcliffe, the British billionaire founder of Ineos, the chemicals group, is trying to spark a local shale gas revolution. He has offered to share 6% of future revenues with communities or landowners if they work with Ineos to develop the energy source — far more than anything offered in the UK before.
"This will be a game changer," he argues, explaining that he copied the idea of a 6% pledge from America, where similar handouts have helped start a dramatic expansion of shale gas extraction since 2010. In truth, the chances of this offer being widely accepted are not high: extracting shale gas remains so contentious in the UK that it has hitherto largely been blocked. But Mr Ratcliffe deserves a cheer for trying. To understand why, take a look at the latest World Economic Outlook report from the International Monetary Fund (IMF), released this...