The UK’s shale carrot
Will paying people to like fracking change the outlook for UK gas?
PRIME minister Theresa May's new government wants to make fracking more palatable for the public by offering up to £1bn ($1.3bn) in payments to them over the next 25 years. The Shale Wealth Fund (SWF), announced on 8 August, would use up to 10% of tax revenues from future shale gas production and give the funds to the public. The crucial difference between the SWF and previous government pledges to compensate for shale gas development is that now the money will go straight to individual households - not handed out to local authorities. The SWF even betters a previous shale gas compensation pledge from petrochemical giant Ineos - which wants to drill for shale gas - to pay local communities 6
Also in this section
21 January 2026
Petroleum Economist takes a look at the critical developments that look set to govern the course of the market for this year
20 January 2026
The ripple effects of US refiners switching to Venezuela grades will be felt from Canada to China and everywhere in between
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
