Thursday, January 17, 2013

BP: Shale Boom will Never Happen in the UK or Europe

BP: Shale Boom will Never Happen in the UK or Europe

Some British ministers, especially Chancellor George Osborne, hope that fracking will enable the UK to experience a shale gas boom similar to the US, and completely change the energy market over the next twenty years.Unfortunately BP’s chief economist, Christof Rühl, disagrees, stating that Europe and the UK face very different circumstances than the US, which will not enable shale gas production to really kick off until around 2030, and even then only in small amounts.“Europe has various problems: environmental concerns, outright…Read more...http://oilprice.com/Latest-Energy-News/World-News/BP-Shale-Boom-will-Never-Happen-in-the-UK-or-Europe.html

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