Fallon: Fracking could make huge difference to economy
13 January 2014 Last updated at 13:42 GMT
Michael Fallon says fracking "could make a huge difference to our economy" and there could be up to £10m per site from developers to share out.
The business minister said it would be a gamble for those firms taking part, but "not a gamble for the environment" and there would be strict regulations.
He spoke to Jo Coburn on the Daily Politics about how fracking has cut bills in the US - and when British people might see their energy bills fall.