UK PM Truss to scrap fracking ban, help ease energy crisis
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Amidst the deepening energy crisis, Britain’s new Prime Minister Liz Truss is considering plans to grant ‘dozens’ of new North Sea oil and gas exploration licenses, Reuters reported, citing unnamed sources.
The UK government is seeking to lift domestic production to help ease the country’s energy crisis.
Meanwhile, the UK Telegraph also reported that the country’s fracking ban will be removed on Thursday, September 8.
Despite the government’s efforts to curb soaring energy costs, GBP/USD is struggling to extend its recovery.
At the time of writing, the pair is trading at 1.1507, down 0.15% on the day, retreating from a daily high of 1.1541.
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