He sought to play down fears about the environmental dangers posed by fracking, claiming there was "no evidence" that it would cause contamination of water supplies or other damage if properly regulated.
Last week Mr Cameron said Britain would be "making a big mistake" if it did not seriously consider fracking and the prospect of cheaper gas prices.
The Prime Minister said the country is "missing out big time at the moment" and Mr Osborne warned it would be a "real tragedy" for the UK to allow the "energy revolution" to bypass it.
More top news
James Wright has the latest weather forecast for the east of the region.
James Wright has the latest forecast for the west of the region.
David Cameron discusses Britain's new runway with ITV Meridian political correspondent, Phil Hornby.