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
Jamaican sprinter Usain Bolt has met the cameraman who crashed into him on a Segway.
Best of the dry and bright weather across southeast England today.
Here is a summary of what we know so far following the discovery of 71 bodies in the back of an abandoned lorry in Austria yesterday.