I would certain welcome that if it were reflected in the sort of statements that we hear from the Government about shale gas, but it is not. Time and again I have had debates with Ministers when they have easily and quickly leapt to the defence of shale gas by saying that it will incontrovertibly lead to lower gas prices. That is the problem. There is a gap between the rhetoric and the reality. If we all agree that the jury is out on that issue, I am pleased about that. The DECC report states that there is
“a high degree of uncertainty surrounding any price forecast.”
Let us look at what some of the energy market experts are saying about the cost question. Jamie Spiers, researcher at Imperial college, said that
“figures suggest that the cost of extracting UK shale gas reserves will exceed the price. This is a big issue that not been addressed very much.”