Open

Coming up

Don't miss

Replay


LATEST SHOWS

WEB NEWS

France's top consumer group sues Internet giants

Read more

WEB NEWS

Web users pay tribute to South Korea ferry victims

Read more

AFRICA NEWS

A landslide victory for the 'invisible candidate' in Algeria's Presidential polls

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014

Read more

THE WORLD THIS WEEK

The World This Week - 18 April 2014 (part 2)

Read more

MEDIAWATCH

Presidential adviser resigns over "shoe-shine scandal"

Read more

#THE 51%

Breaking stereotypes

Read more

#TECH 24

Galaxy S5 v. HTC One (M8): Which is the right one for you?

Read more

FRANCE IN FOCUS

New PM Manuel Valls outlines priorities

Read more

  • Why Syria’s cash-strapped jihadists let hostages go

    Read more

  • Video: Ukraine separatist crisis overshadows Easter celebrations

    Read more

  • The Great War's unsung four-legged heroes

    Read more

  • Divers begin pulling bodies from sunken South Korean ferry

    Read more

  • Ukraine rebels call for Russian troops after deadly clash

    Read more

  • UK’s Hamilton cruises to victory at Chinese Grand Prix

    Read more

  • Freed French journalists arrive home after Syria ordeal

    Read more

  • Syria’s Assad visits recaptured Christian town at Easter

    Read more

  • In pictures: French kite festival takes flight

    Read more

  • Le Pen’s National Front fail to woo Britain’s Eurosceptics

    Read more

  • PSG clinch fourth League Cup title after beating Lyon

    Read more

  • Militants kill Algerian soldiers in deadly ambush

    Read more

  • Scores killed in South Sudan cattle raid

    Read more

  • VIDEO: Anti-Semitic leaflets in Eastern Ukraine condemned

    Read more

  • Bouteflika, the ghost president

    Read more

  • Does Valls’ upcoming Vatican trip violate French secularism?

    Read more

  • Ukraine separatists say ‘not bound’ by Geneva deal

    Read more

  • Abel Ferrara’s hotly awaited DSK film to premiere on web

    Read more

  • Obama signs bill to block controversial Iran diplomat from UN post

    Read more

  • Astronomers discover Earth-like planet that could support life

    Read more

  • In pictures: Iranian woman pardons son’s killer at the gallows

    Read more

Shale not a miracle solution for Europe

AFP

General site where exploratory drilling for shale gas is being carried out in Manchester, England, on January 13, 2014General site where exploratory drilling for shale gas is being carried out in Manchester, England, on January 13, 2014

General site where exploratory drilling for shale gas is being carried out in Manchester, England, on January 13, 2014General site where exploratory drilling for shale gas is being carried out in Manchester, England, on January 13, 2014

Shale oil and gas have had limited benefits for the US economy and their advantages for Europe will be even slimmer, a French think tank said Wednesday.

The shale boon in the US has mainly benefited local economies and the gas industry with only "minimal" impact on macro-economic growth, the Institute for Sustainable Development and International Relations (IDDRI) said.

A sharp fall in gas prices that has benefited consumers is unlikely to be sustained, and for the foreseeable future, the United States will remain a big importer of crude oil, it said in an analysis.

The report cautioned that the advantages for Europe would be even narrower, given restrictions in geology, environmental considerations about exploration and a long and costly lead time to exploit finds.

"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.

"Between 2000 and 2010, the US drilled a total of 17,268 exploratory natural gas wells, at an average of 130 per month. Exploration in the EU is in its infancy, with about 50 wells drilled" thus far.

A middle-of-the-road scenario suggests that by 2030-2035, the EU could meet between three to 10 percent of its projected energy demands from shale, IDDRI said.

"Shale gas should therefore not be seen as a solution to the EU's energy, climate and competitiveness challenge," said the forecast.

"The EU needs a holistic strategy combining energy efficiency, eco-innovation, low-carbon energy sources and a stronger, more integrated internal market."

It added: "Shale gas could be a complement to this, in so far as it could contribute to a more liquid, resilient internal gas market, particularly in those member states currently highly dependent on polluting coal or Russian gas."

Date created : 2014-02-12