Shale gas and slate oil brings little good for the U.S. economy, less they can do for the European one. That is the view of the French IDDR cited by Agence France-Presse.
According to IDDRI, shale boon gave a boost to the local economies; however its impact on the U.S. economic growth is a bit exaggerated. Moreover, a sharp decline in gas prices amid development of shale industry can hardly be long-lived.
In Europe, considering other geological position and ecological situation as well as time-consuming process, the positive effect will insignificant. "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. In search for shale deposits, the U.S. drilled 17,268 gas wells between 2000 and 2010, i.e. 130 a month. In the EU the number of wells totals 50.
IDDRI estimated that by 2030-2035 the European Union will be able to meet between 3 to 10 percent of its energy demands from shale gas. Thus, it is obvious that shale gas will not be able to resolve the European energy problems.
IDDRI suggests that the EU needs a holistic strategy aimed at ecologic innovations, energy efficiency and integrated domestic fuel market. The shale gas can be a part of this strategy. Revolution of shale gas happened in the North America in 2000s led to increased volume of fuel on the domestic market and lower prices. By 2013 the USA provided itself with gas, being the world’s largest gas producer. Meanwhile, prices for energy are much lower now compared to the non-shale period. Nevertheless, over the past two years energy prices rose above the highs reached in 2012.
