Shale not a miracle solution for Europe

February 12, 2014
General site where exploratory drilling for shale gas is being carried out in Manchester, England, on January 13, 2014

Shale oil and gas have had limited benefits for the US economy and their advantages for Europe will be even slimmer, a French think tank said Wednesday.

The shale boon in the US has mainly benefited local economies and the with only "minimal" impact on macro-economic growth, the Institute for Sustainable Development and International Relations (IDDRI) said.

A sharp fall in that has benefited consumers is unlikely to be sustained, and for the foreseeable future, the United States will remain a big importer of crude oil, it said in an analysis.

The report cautioned that the advantages for Europe would be even narrower, given restrictions in geology, environmental considerations about exploration and a long and costly lead time to exploit finds.

"It is often overlooked, but the US shale revolution came after several decades of geological exploration which scaled up massively in the years preceding the boom," IDDRI said.

"Between 2000 and 2010, the US drilled a total of 17,268 exploratory natural gas wells, at an average of 130 per month. Exploration in the EU is in its infancy, with about 50 wells drilled" thus far.

A middle-of-the-road scenario suggests that by 2030-2035, the EU could meet between three to 10 percent of its projected energy demands from shale, IDDRI said.

"Shale gas should therefore not be seen as a solution to the EU's energy, climate and competitiveness challenge," said the forecast.

"The EU needs a holistic strategy combining energy efficiency, eco-innovation, low-carbon energy sources and a stronger, more integrated internal market."

It added: "Shale gas could be a complement to this, in so far as it could contribute to a more liquid, resilient internal gas market, particularly in those member states currently highly dependent on polluting coal or Russian ."

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The Shootist
1 / 5 (3) Feb 12, 2014
Shale oil and gas have had limited benefits for the US economy


Idiots with an agenda. Shale gas hasn't even started yet. US natural gas production is projected to increase 500% over the next 25 years. And that is without taking any potential technologies into account. Gas liquefaction is going to be the big deal. Cheap abundant gasoline, keeps the watermelons away.
vlaaing peerd
5 / 5 (3) Feb 13, 2014
Good for you! it's not worth drilling our soils. I hope for you your country becomes very rich of it. You will need it when we'll be making profits selling you commercially exploited drinking water and still not buying your gas because our alternative energy @current rates already sells for a lower price, while shortages will only increase the price of that low quality gas.
Osteta
Feb 13, 2014
This comment has been removed by a moderator.
Bonia
Feb 18, 2014
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