The Oil & Gas Journal is reporting:
The UK government outlined a proposed tax regime for shale gas,
including a new shale gas allowance based on existing field allowances
for oil and gas production.
The proposed allowance
would reduce the tax on a portion of a company’s production income to
30% from 62%, the UK Treasury said in a statement. No UK shale gas wells
are on production yet.
As noted elsewhere, the UK is in deep, deep trouble when it comes to energy -- despite all that incredibly expensive off-shore wind power.
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