U.K.’s Davey Warns of Hype Over Shale Gas Benefits, Times Says

U.K. Energy Secretary Ed Davey will warn of “hype” over the benefits of fracking for shale gas in a speech tomorrow, The Sunday Times reported.

Davey, who is a member of the Liberal Democrat junior partners in Prime Minister David Cameron’s coalition government, will say the benefits won’t be felt until 2020 and can’t be at the expense of environmental protection, according to the newspaper.

Cameron and Chancellor of the Exchequer George Osborne have predicted that fracking in the U.K. will cut energy prices and as a result boost industry and relieve financial pressure on families. Environmentalists have claimed that it could lead to increased greenhouse gas emissions and cause other damage to the environment.

To contact the reporter on this story: Thomas Penny in London at tpenny@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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