Saturday, July 20, 2013

UK Government Unveils World's 'Most Generous' Tax Breaks for Fracking

The ladies really don't like fracking!




The British government unveiled the world's "most generous" tax breaks for fracking on Friday, hoping it can "be a leader of the shale gas revolution." The new tax rate would chop the current rate in half, as "shale gas producers will pay just 30 per cent tax on their profits, compared to the 62 per cent that the oil and gas industry has traditionally paid,"  (commondreams.org)

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