EU Fears a US Shale Oil Boom could Make Competition Impossible

by ennet@oilprice.com (Environmental News Network)

A US industrial boost following its ability to tap abundant shale gas reserves is provoking fears that imperilled energy-intensive European businesses will find it harder than ever to compete.But calls for the EU to deliver a 'silver bullet' and emulate the US by tapping shale gas through 'fracking' remain controversial because of environmental and logistical concerns.Partly due to its shale reserves, the United States is expected to become almost self-sufficient in oil and gas by 2035 and will overtake Russia in gas production by 2015 and Saudi…Read more...http://oilprice.com/Energy/Crude-Oil/EU-Fears-a-US-Shale-Oil-Boom-could-Make-Competition-Impossible.html