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Shale gas: miracle or pipe dream? – utalk

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2 years ago

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Question: “Is shale gas an economic windfall or just an empty promise? Could a shale gas boom…

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http://www.euronews.com/2013/11/08/shale-gas-miracle-or-pipe-dream
Question: “Is shale gas an economic windfall or just an empty promise? Could a shale gas boom revolutionise the European gas market like it’s done in the US?”

Answer: Thomas Porcher, economist, energy expert specialising in the commodities market, and author of “Le Mirage du Gaz de Schiste” (The Shale Gas Mirage) replies:

“To find out whether or not Europe could replicate the American experience, firstly you have to understand that there will never be an energy revolution unless gas prices drop.

“In the United States, gas prices have dropped by a third. That has allowed American industries to be more competitive. Lower energy prices have also contributed to economic growth job creation.

“But there is no evidence that European gas prices will drop as much as they have in the US.

“Firstly, the European gas market is different from the American one. Our market is a lot less flexible, the prices are indexed on oil prices and the contracts are long term.

“Secondly, our extracting costs would be far more expensive than the US because we don’t have the infrastructure and European environmental legislation is a lot stricter than in America.

“A recent Bloomberg survey shows that in the UK, the extracting cost would be between 8 and 12 dollars with gas prices at 10 dollars in Europe. So, it’s highly probable that gas prices will not drop in Europe.

“The problem in the debate on shale gas in Europe is that we want to go too fast. We thought we could replicate the American experience, but the European population density and landscape are totally different than in the US.

“So I think we should wait until primary studies on economic impacts have been completed, because if shale gas brings no economic benefits and just negative effects on local communities, as far as I’m concerned the debate is over.”

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Ukraine opens new cluster of negotiations on EU membership track

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59 minutes ago

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July 16, 2026

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The European Union and Ukraine on Tuesday opened a new cluster of negotiations, as part of the process for the country to join the Union.

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Latest news bulletin | July 10th, 2026 – Morning

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July 16, 2026

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Latest news bulletin | July 10th, 2026 – Morning

Catch up with the most important stories from around Europe and beyond this July 10th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.

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Grand Voyager | Exploring Budapest

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3 hours ago

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July 16, 2026

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Grand Voyager | Exploring Budapest

In 2025, Budapest welcomed a record eight million visitors, making it one of Central Europe’s most popular destinations. So what is it about this city that attracts so many travellers?

In partnership with Media City

READ MORE : http://www.euronews.com/2026/07/15/grand-voyager-exploring-budapest

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US launches strikes on Iran for third straight night as Trump says deal still ‘possible’

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4 hours ago

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July 16, 2026

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US launches strikes on Iran for third straight night as Trump says deal still ‘possible’

Following the latest US strikes, the UAE said Iran attacked two ships in the Strait of Hormuz with missiles, as Iran said it carried out strikes on Bahrain.

READ MORE : http://www.euronews.com/2026/07/14/us-launches-strikes-on-iran-for-third-straight-night-as-trump-says-deal-still-possible

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Targeting Patriarch Kirill risks fuelling EU scepticism, Bulgarian foreign minister warns

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5 hours ago

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July 16, 2026

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Targeting Patriarch Kirill risks fuelling EU scepticism, Bulgarian foreign minister warns

Velislava Petrova-Chamova told Euronews that the EU’s sanctions against Russia should have a financial impact and not be a symbolic instrument – and that this, among other reasons, is why Sofia championed the removal of the head of Russia’s Orthodox Church from the 21st sanctions package.

READ MORE : http://www.euronews.com/2026/07/14/targeting-patriarch-kirill-risks-fuelling-eu-scepticism-bulgarian-foreign-minister-warns

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