This is an interesting article and worth a read. Check it out!
via Shale Gas Market is Expected to Reach $104.1 Billion, Globally, by 2020 – Shale World : Shale World.
Against a background of Europe fire-fighting for energy, once again this article raised in my mind the poor judgement of the European Union and her sponsors in not having an effective energy strategy. In my eyes, the European Commission seems to be run by a bunch of greens who are out of touch with reality, geopolitics and commerce.
Surely, it makes sense for Europe to pitch in and help Cyprus develop offshore oil and gas?
Also, the EU must surely look again at the cost benefit of shale gas, viz. fracking?
The EU and the UK need to become self sufficient in energy just as America already has.
Dr Alf is right to point out the absence of a European energy policy and their green agenda which is taking the form of a ban on the use of powerful vacuum cleaners,electrical appliances and the heavier taxing of diesel fuel as a way to force people into using less power,replacing all cars powered by diesel engines and applying a backdoor VAT imposition on food.
These misguided policies and the failure to work with Cyprus which along with Israel and even Palestine has huge reserves of shale gas are putting the EU and the UK into the hands of Vladimir Putin and those who like shortages which they can exploit.
Moreover the EU will trigger demands for breakup of nation states whenever shale gas or mineral wealth is found in one place and not in another.
Should Alex Salmond win his referendum on the 18th you will see this in the Orkney and Shetland Islands who just might see advantages in becoming independent or rejoining Norway.
Cyprus,Dr Alf’s current abode might do better by dealing directly with an American oil company or China National Oil Corporation than with the EU which is so slow that the world is passing it by.