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London is in line for a £94 billion shale oil and gas bonanza, new research claims today.

The work estimates that fracking south of the capital could deliver 46,000 jobs in and around London, employing everyone from lorry drivers to financiers.

But Tories behind the research claim scare-mongering about fracking by “greenies” has put the massive windfall at risk.

They say benefits will only come if government pushes harder for extraction and are calling on Boris Johnson to champion the industry.

London Assembly member Tony Arbour said: “There are two reasons this hasn’t really started yet.

“One is the fear that environmentalists and greenies are generating, suggesting it’s going to create earthquakes and be the end of the world.

“The second is a more substantial fear of people that live nearby sites, who fear they will experience horrendous disruption.”

But Mr Arbour said concerns were overplayed, claiming there was little fuss about disruption at Wytch Farm in Dorset, western Europe’s largest onshore oil field.

His research today draws upon a British Geological Survey estimating there are 4.4 billion barrels of shale oil in the Weald Basin, a region just south of London spanning from Kent to Dorset.

Mr Arbour claims that if just 40 per cent of the fossil fuel were recovered, which he says is a conservative estimate, then current oil prices would deliver a £93.7 billion windfall.

The member’s work estimates that over a 30 year period 46,000 jobs would be created including those in science, engineering and construction.

He added: “In the same way Aberdeen has benefited by being the centre of the British North Sea oil industry, London could benefit from this Weald Basin industry, which is on the verge of massive growth.

“It’s an opportunity that can’t be missed and needs a powerful voice to say how marvellous it is. Currently the most powerful we have is Boris.”

The Tories were planning to push Mr Johnson over the issue at Mayor’s Question time today, asking him to host a shale summit and encourage London universities to produce more graduates for the industry.

A spokesperson for Mr Johnson said: “The Mayor is a firm supporter of fracking and more locally sourced and sustainable power supplies.”

She went on: ”We should leave no stone unturned, or unfracked, as long as we comply with the relevant planning and environmental regulations, to help keep London’s lights on, energy bills down, create more jobs and boost London’s energy industry.”

But Baroness Jenny Jones, a Green member of the London Assembly, warned that fracked oil and gas would exacerbate climate change and the focus should be on developing solar, wind and other renewable energy sources.

She added: “The reckless pursuit of ‘fracking’ ignores the risk of contaminating ground water through the pumping of massive amounts of water and toxic chemicals under high pressure.

“Furthermore it means that swathes of London and the South East will be threatened with disruption, noise and pollution as thousands of fracking trucks pass through their neighbourhoods.”