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Unconventional wisdom: an economic analysis of US shale gas and implications for the EU
Posted on: 28 February 2014
By: mackene
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Filed under: News
The recent rapid growth in the production of unconventional oil and gas (shale gas and tight oil) in the US has profoundly changed the US energy market. It has also had global implications, in particular a significant divergence of natural gas prices between the US and major economic trading partners, such as the EU, Japan and China. The exploitation of shale gas in the EU is proposed as a way to rebalance climate and energy policy in order to favour economic competitiveness. Simultaneously, it is suggested that less emphasis should be given to carbon pricing, energy efficiency and renewable energy policies, as wider use of gas would be a cheaper avenue to deliver greenhouse gas emissions reductions. This paper assesses the energy sector and economic impacts of the unconventional oil and gas revolution in the US. It then addresses the potential for the EU to replicate the US experience.
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