UK government greenlights shale fracking

In a fresh coalition split on energy in the UK, even as the Prime Minister David Cameron, chancellor George Osborne and energy minister John Hayes hailed the potential for "fracking" for reduction of gas prices, Liberal Democrat energy secretary Edward Davey, has called for caution saying he thought it was ''unlikely'' that bills the new shale gas would reduce bills.

The row started following Davey approving exploration and drilling for shale, which is extracted by fracturing rocks to release gas reserves. Yesterday, he lifted a ban on fracking, which was imposed following the first project setting off minor tremors near Blackpool.

Senior members of the Conservative Party are though enthused about the potential for shale gas to boost the economy, creating jobs, making the UK more self-sufficient and bringing down energy costs.

According to the prime minister's spokesman shale gas had great potential to push down prices.

She added, that was something that was attractive about finding another source of energy.

In a hearing on Tuesday, prime minister, David Cameron suggested the "revolution" could help keep down household bills.