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Old 02-04-2014, 07:37 PM   #1
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Default Europe: No Fracking? Bye-Bye Jobs

Press release from the IEA this AM:

The International Energy Agency’s chief economist Fatih Birol says Europe faces at least another 20 years of high gas and electricity prices, and will lose a third of its global market share of energy-intensive exports, mainly to the U.S. with its newly abundant supplies of oil and gas. The dire prediction concerns 30 million people working in industries that consume a lot of energy, such as steel and petrochemicals.

Right now, gas prices in Europe are three times as high as in the U.S., and electricity is twice as expensive for industrial consumers. European industrialists blame this on environmental subsidies meant to develop renewable energy sources, and Germany is already posed to scale back its green policies.

The IEA, however, believes the problem is both simpler and harder to solve: High import prices on natural gas, mainly from Russia. The only way for Europe to reduce prices at this point is to work shale gas deposits and build nuclear power plants. One other way would be to seek political rapprochement with Russia, but that is hardly feasible given the EU’s vast ideological differences with President Vladimir Putin’s regime.
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Old 02-04-2014, 08:59 PM   #2
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Thank you UK.

I was getting concerned that oil and gas prices were going to fall below profitable levels for fracking.
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Old 02-05-2014, 02:21 AM   #3
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Contradictory messages .

Major news out of Europe confirmed the strongly held belief of many in the
energy sector that European states will be the next frontier in the shale
gas revolution, and it seems sooner rather than later.
The EU’s legislation specifically rejected calls for sweeping and legally-binding regulations on the fracking
industry that could have slowed, or even stayed, exploration activity altogether. Among the rationales cited for
refusing to adopt sweeping regulations is the desire to establish clear and unambiguous rules affecting natural
gas investors in Europe

And from the UK we have ...

David Cameron today said he would not allow red tape from Brussels
to damage British jobs or limit the country’s fracking industry.

The Prime Minister said he would not let the European Union stand in the
way of the UK’s drive to mine for shale gas reserves.
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byebye, europe, fracking, jobs

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