Producing oil and gas from shale has become one of the big hopes of the developed world for sparking economic recovery and sustained growth, albeit that there are serious worries about causing further environmental damage. Could Britain and/or Scotland get in on the act? Yes, I think so, but only if there is a major change in the law that could make some people quite wealthy and could give a lot of people a little extra income without having to do anything for it.

America’s shale boom is turning into a real economic game-changer. US natural gas prices are roughly a quarter of European prices. Imagine what that would do to your home heating bill or, if you are running a big office or hotel, what it would do to your company costs.  MORE