Fracking could "potentially" be a "remarkable opportunity" for the UK to develop a new industry which would create jobs and deliver greater independence from the global energy market, a leading member of the House of Lords said.
Lord MacGregor, the chairman of the Lords Economic Affairs Committee said:
The Committee strongly supports the Government's decision to go 'all out for shale'.
But here in the UK we have not yet left the starting gate.
Developing a successful shale gas and oil industry in the UK must be an urgent national priority.
Potentially it's a remarkable opportunity for this country.
We're calling for streamlining not weakening the regulation and we believe the Government needs to get its act together faster and more comprehensively.
More top news
Actor Dustin Diamond allegedly stabbed a man in a bar in the US after getting into an argument on Christmas Day.
Over the next 24 hours we are going to see snow and ice across many parts, although it is looking calmer from Sunday onwards.
A young grey seal found in a farmer's field on Monday is making progress say RSPCA staff. He's thought to have a head injury.