The British government said Thursday it plans to fast-track the permit process for shale oil and gas exploration to ensure the industry can gain traction. Shale oil and gas exploration is in its infancy in a country looking to reduce its dependency on foreign reserves. The British Geological Survey estimated shale basins in the country may hold more than 1.3 quadrillion cubic feet of natural gas, a level the government said could help an economy with natural gas imports on pace to increase from 45 percent of demand in 2011 to 76 percent by 2030. The British government said Thursday it was calling on local councils to decide on shale permits within 16 weeks of an application. “To ensure we get […]