Mayor backs £94bn Fracking ‘bonanza’

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Mayor backs £94bn Fracking ‘bonanza’
23rd October 2014

London Mayor Boris Johnson has endorsed an American style law which would see London benefit to from oil and shale gas exploration near the capital.

The oil exploration will cover a huge area spanning from Ken to Hampshire, know as the Weald Basin.

GLA Conservative Tony Arbour said that research has shown that this venture could result in over £93 billion  worth of oil.

Boris Johnson described tho possible venture as a ‘bonanza’ that would benefit Londoners with the creation of an estimated 46,000 jobs and high profits.

This is a controversial subject as the process proposed known as fracking has been met with fierce opposition.

The Green party cams that the process will accelerate climate change and will host a range of dangerous pollutants damaging communities.

The International Energy Agency says that it will have no effect to energy bills, predicting the price of gas will actually rise by as much as 40 per cent by 2020.

To discuss whether this move is right for London is Andrew Boff Conservative member of the London Assembly, his fellow Assembly member Darren Johnson - who is a member of the Green Party and Charles Metcalfe, campaigner with the group Frack Off.

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