Britain will resume onshore drilling for gas after Prime Minister Liz Truss announced the end of a ban on fracking in one of her first moves in power.
Ms Truss announced the policy change to MPs on Thursday as part of a multi-pronged plan to tackle Britain’s energy crisis.
Shale gas extraction could restart within months but only where there is local consent, she said, anticipating potential resistance from residents and environmentalists.
With short-term cost of living relief expected to cost £100 billion ($115bn) or more, Ms Truss is pledging to increase domestic energy supply so that Britain does not face such a squeeze again.
She said the new Business Secretary Jacob-Rees Mogg would set out plans within weeks to make Britain a net exporter of energy by 2040.
"It is vital that we take steps to increase our domestic energy supply," Ms Truss told the House of Commons.
"We will end the moratorium on extracting our huge reserves of shale, which could get gas flowing as soon as six months where there is local support for it."
Fracking for shale gas was banned in 2019, under Boris Johnson’s government, after regulators said it was not possible to accurately predict earthquakes linked to the process.
Mr Johnson said in one of his final speeches as prime minister that he was “slightly dubious” that fracking would be the answer and preferred less environmentally risky offshore wind farms.
But as energy concerns mounted after Russia invaded Ukraine, the British Geological Survey was told to have another look at fracking in April by the business secretary at the time, Kwasi Kwarteng, who is now chancellor of the exchequer under Ms Truss.
The geologists’ report was handed to ministers in July and the government said it would now be made public. The Conservative election manifesto in 2019 said ministers would not support fracking unless scientific advice changed.
The oil and gas industry says about 2,000 wells have been drilled on the British mainland, of which 10 per cent have been hydraulically fractured to extract shale gas.
“If we want energy sufficiency we have to look at every source, including, clearly, new nuclear [and] more renewables, but we also want to look at technologies like fracking,” cabinet minister Simon Clarke told Sky News on Thursday.
Bill Esterson, a Labour shadow minister for business and energy, said he would “oppose fracking all the way” and said it would take years to start generating any gas.
But Tory MP Julian Knight described the onshore gas reserves as a “shale weapon against Putin’s energy war”.
Ms Truss is separately promising to increase offshore oil and gas extraction from the North Sea to build up Britain’s energy independence.
“Putin’s war in Ukraine and weaponisation of gas supply in Europe is causing global prices to rise ― and this has only made clearer that we must boost our long-term energy security and supply,” she said.
“We will take action immediately to help people and businesses with bills but also take decisive action to tackle the root cause of these problems, so that we are not in this position again.”
Ministers are planning a revival of Britain’s nuclear power industry, with the planned Sizewell C plant granted £700 million of public funding in Mr Johnson’s final days in office.
But there is less enthusiasm in the Truss camp for onshore wind and solar panels, whose construction on farmland she described as “one of the most depressing sights” in the country.
More from Rashmee Roshan Lall
How Apple's credit card works
The Apple Card looks different from a traditional credit card — there's no number on the front and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. Its attributes include quick sign-up, elimination of most fees, strong security protections and cash back.
What does it cost?
Apple says there are no fees associated with the card. That means no late fee, no annual fee, no international fee and no over-the-limit fees. It also said it aims to have among the lowest interest rates in the industry. Users must have an iPhone to use the card, which comes at a cost. But they will earn cash back on their purchases — 3 per cent on Apple purchases, 2 per cent on those with the virtual card and 1 per cent with the physical card. Apple says it is the only card to provide those rewards in real time, so that cash earned can be used immediately.
What will the interest rate be?
The card doesn't come out until summer but Apple has said that as of March, the variable annual percentage rate on the card could be anywhere from 13.24 per cent to 24.24 per cent based on creditworthiness. That's in line with the rest of the market, according to analysts
What about security?
The physical card has no numbers so purchases are made with the embedded chip and the digital version lives in your Apple Wallet on your phone, where it's protected by fingerprints or facial recognition. That means that even if someone steals your phone, they won't be able to use the card to buy things.
Is it easy to use?
Apple says users will be able to sign up for the card in the Wallet app on their iPhone and begin using it almost immediately. It also tracks spending on the phone in a more user-friendly format, eliminating some of the gibberish that fills a traditional credit card statement. Plus it includes some budgeting tools, such as tracking spending and providing estimates of how much interest could be charged on a purchase to help people make an informed decision.
* Associated Press
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
UAE currency: the story behind the money in your pockets
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Overall head-to-head
Federer 6-1 Cilic
Head-to-head at Wimbledon
Federer 1-0 Cilic
Grand Slams titles
Federer 18-1 Cilic
Best Wimbledon performance
Federer: Winner (2003, 2004, 2005, 2006, 2007, 2009, 2012)
Cilic: Final (2017*)
The%20specs%3A%20Panamera%20Turbo%20E-Hybrid
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The%20specs%3A%202024%20Panamera
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Company%20Profile
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The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
