Assume that fracking becomes common across the UK. The result is that supplies of shale gas and
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Assume that fracking becomes common across the UK. The result is that supplies of shale gas and oil increase sharply. Trace through the effects of this on the market for oil, gas and the market for other fuels.
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Take the case of shale oil first The increase in the supply of oil will cause a surplus of oil at current prices This will cause the price of oil to f...View the full answer
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