Any British-born industry mogul worth his elegant navy blue passport should know how seriously his fellow countrymen take their folklore heroes – the more scurrilous the better. So it comes as a surprise to many that Ineos chief Jim Ratcliffe has chosen to awaken the ghost of a famous figure who robbed from the rich and gave to the poor.

The chemicals and plastics producer, which recently relocated its fracking arm to the UK from Switzerland, is seeking to explore for shale gas within 200 metres of the Major Oak in Nottinghamshire’s legend-steeped Sherwood Forest. The sprawling 1,000-year old tree – voted Britain’s favourite in 2002 – is said to have sheltered Robin Hood and his merry men as they hid from the Sheriff of Nottingham in the 15th century.

While shale operations director Tom Pickering says Ineos has not yet decided whether to frack Sherwood Forest, and if it does will take great care with the Major Oak, environmentalist group Friends of the Earth (FoE) believes that in rattling the chains of Robin Hood, Little John and Friar Tuck, Ratcliffe and his “merry managers” may have shot themselves in the foot – with a bow and arrow.

“Ineos couldn’t have found anything more iconic in the English mindset to go for,” comments FoE campaigner Guy Shrubsole. "You’d have thought they’d have learnt from the mistakes of some of the other fracking companies to avoid it, but they’ve gone straight for it.”