Germany is set to lift its ban on fracking as early as next year, after caving in to business demands that it should reduce its dependency on Russian energy and boost competitiveness with US manufacturers. Fracking has been the subject of a fierce debate in Germany’s ruling coalition, with some politicians keen to reduce reliance on Russian energy imports, while others fear the impact of fracking chemicals on a densely populated country. --Jeevan Vasagar, Financial Times, 5 June 2014
The green mantra is a European obsession. It's a quasi-religious belief system that is very difficult to shift, very entrenched, in some countries more than others, and it is holding back development. My feeling is, given Europe's economic crisis and the potential economic benefit of shale, it's only a question of time that the Continent will also exploit its resources. It might take one country to lead, but once the shale gas is coming out of the ground in big enough volumes and countries start benefiting from it, others will follow - it's inevitable. --Benny Peiser, Europe Will Come Around,
Natural Gas Europe, 21 February 2013
Thanks in large part to Germany's decision to phase out nuclear power and push into green energy, companies there now pay some of the highest prices in the world for power. In the United States, electricity prices are falling thanks to natural gas derived from fracking. Peter Huntsman, chief executive of the family firm, calls the United States the new global standard for low-cost manufacturing. Huntsman is spending hundreds of millions of dollars to expand in the United States, and rapidly closing plants in Europe. That's a dramatic change from just a few years ago, when Germany was held up as a model of manufacturing prowess. --Christoph Steitz and Ernest Scheyder,
Reuters, 2 June 2014
German Chancellor Angela Merkel's energy policies - designed to sharply boost the share of renewables in Germany's energy mix, tackle climate change and cut Germany's dependency on foreign gas and oil - are a rising source of concern for the country's industry, particularly energy-intensive companies like Wacker. According to Germany's Chamber of Commerce and Industry, half of the country's industrial companies believe their global competitiveness is threatened by Germany's energy policy, and a quarter of them are either shifting production abroad or considering doing so. --Christoph Steitz and Ernest Scheyder,
Reuters, 2 June 2014
The U.K. government will introduce a law to make exploring for shale oil and gas easier. In a speech setting out the government’s legislative plans for the next year, Queen Elizabeth II said a bill would be proposed to “enhance the U.K.’s energy independence and security by opening up access to shale and geothermal sites.” David Cameron’s government wants the development of shale reserves to replace aging North Sea fields and cut energy costs. The U.K. estimates areas in northern England may hold 1,300 trillion cubic feet of natural gas, enough to meet demand for 50 years at an extraction rate similar to U.S. fields. --Nidaa Bakhsh,
Bloomberg, 4 June 2014
A group of 50 academics from some of the UK’s leading universities today call on politicians to fast-track a UK shale gas industry, the latest salvo in an increasingly polarised debate around fracking. In a letter to the Guardian on Thursday, the scientists argue there are “undeniable economic, environmental and national security benefits” from shale being produced in the north-west of the country. --Terry Macalister, Damian Carrington and Patrick Wintour,
The Guardian, 5 June 2014
