Shale gas is certainly controversial, but Brits may be more willing to accept it as the desperation for cheaper energy bills takes hold.
The Chancellor has hailed today's figures as a major milestone and there is a lot of optimism, but is it being felt by ordinary people?
The IMF has again raised its forecasts for Britain's GDP growth - just a year after warning that the Chancellor was "playing with fire".
The chairman of Lloyds Banking Group has admitted the company's manipulation of key interest rates was "truly shocking".
The company has been slapped with a £218m fine from US and UK regulators for manipulating the LIBOR inter-bank rate and the Repo Rate.
The Repo Rate was the benchmark used by the Bank of England to calculate how much banks paid to take part in the Government's Special Liquidity Scheme (SLS) to support banks during the financial crisis.
Lloyds chairman Lord Blackwell has replied to a highly critical letterwritten to him by the Bank of England's governor, Mark Carney.
"I absolutely share your concern about the nature of the SLS conduct, and in particular its implication for reducing fees," Lord Blackwell wrote.
"This was truly shocking conduct, undertaken when the Bank was on a lifeline of public support."
He also agreed that Lloyds would pay nearly £8m back to the Bank of England for fees it should have paid for the SLS.
The governor of the Bank of England has warned that Lloyds and its subsidiary Bank of Scotland could face "further action" over the manipulation of benchmark interest rates.
In a letter to Lloyds chairman Lord Blackwell, Mark Carney said the BoE's Prudential Regulatory Authority would now consider whether to take further steps.
"In view of the seriousness of this matter, the PRA will consider whether further action should be taken in relation to the Firms or individuals at the Firms."
The banks have been fined for manipulation of the LIBOR rate and Repo Rate.
Bank of Scotland was formerly part of HBOS, which was taken over by Lloyds in 2009.
The governor of the Bank of England has strongly condemned Lloyds Banking Group for its attempts to manipulate two key interest rates.
Part of Lloyds' £218m fine from US and UK regulators relates to its attempts to reduce the fees it paid to the Bank of England for the Special Liquidity Scheme - a government programme to help struggling banks during the financial crisis.
The Bank of England has now published a letter from governor Mark Carney to the chairman of Lloyds, Lord Blackwell.
"Such manipulation is highly reprehensible, clearly unlawful and may amount to criminal conduct on the part of the individuals involved," Mr Carney wrote.
The National Trust has welcomed new government guidelines dictating that applications for fracking in protected areas such as National Parks should be refused in all but "exceptional" circumstances.
The organisation said it was "right" that the Government addressed concerns about the impact on "special places", but called for the measures to be extended to nature reserves and other wildlife sites.
– Richard Hebditch, National Trust
This is a significant change in approach from DECC. We hope it will reflect a much more cautious approach that recognises the risks of turning some of the most special places in the country over to industrial scale extraction of shale gas and oil.
About £70 million of Lloyds' fine from financial regulators is for trying to manipulate the fees payable to the Bank of England for taking part in a government scheme to support British banks during the financial crisis.
The group is set to pay a total of £218 million to UK and US authorities after it became the latest lender to be punished over the rigging of interest rate benchmarks.
Lloyds said the manipulation took place between May 2006 and 2009, adding that those involved have either left the company, been suspended or are subject to disciplinary proceedings.
Barclays was the first to settle Libor rate-rigging claims, paying £290 million in penalties to US and UK regulators in June 2012, while state-backed Royal Bank of Scotland was hit with a £391 million settlement.
Lloyds Banking Group has agreed to pay fines worth £218 million to UK and US regulators in relation to the manipulation of Libor.
The US authorities have charged the bank with "manipulation, attempted manipulation and false reporting of Libor" between April 2008 and September 2009.
The firms manipulated the benchmark interest rate at which banks lend money to each other in order to reduce the amount it paid in fees to Bank of England.
Campaigners have argued that rules protecting National Parks from fracking could be bypassed due to a "giant loophole".
The Government has said fracking in national parks, areas of outstanding natural beauty (AONBs) and the Broads should be refused other than in "exceptional circumstances and in the public interest".
But environmentalists warned that as ministers have indicated that developing shale gas and oil resources is in the interests of the country, the rules could allow fracking in protected areas.
Official guidance states that if proposed development for shale oil or gas would lead to substantial harm or to loss of a World Heritage Site, planners should refuse consent "unless wholly exceptional circumstances apply".
Greenpeace UK energy campaigner Simon Clydesdale said: "By introducing an exception under a vague 'public interest' case, they've created a giant loophole that could allow fracking all over these protected areas, potentially causing serious environmental damage to our unique natural heritage."
Britain should be looking at renewable energy options rather than widespread fracking, an environmental campaigner has told ITV News.
Craig Bennett, Friends of the Earth’s Policy and Campaigns Director, says to tackle climate change the country should be "getting out of fossil fuels, not getting into them".
A map shows the areas of Britain potentially available for shale gas exploration - also known as fracking.
As shown above, the areas in blue are those available in the latest round of licensing, while those in yellow signify areas where licences have already been awarded - including Blackpool, Brighton and Portsmouth.
More information can be found on the Department for Energy and Climate Change website.