In December, Cuadrilla said it had no intention "at the moment" of drilling to the area south of the village, where it now has permission to drill a borehole for oil and gas exploration.

BBC: Balcombe, West Sussex

Cuadrilla insists the process is safe, but says it has no intention "at the moment" of drilling in the area south of the village, where it has permission to drill a borehole for oil and gas exploration.

BBC: Balcombe, West Sussex

Nonetheless, crude is still at price levels that are significantly higher than historical averages, suggesting that exploration and production companies are bound to get plentiful new contracts to drill for oil and natural gas.

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Many of the factors behind America's gas boom, including liberal regulation of pipelines (which encouraged wildcat exploration by small producers), a well-aimed subsidy and abundant drill-rigs, do not exist elsewhere.

ECONOMIST: Shale gas

"We know how to drill it, but we don't know how to produce it yet, " says North American exploration head Raymond Wilcox.

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