Despite the hype about the shale gas revolution, the extraction cost of (onshore) conventional gas remains below that of shale gas.

Shale Gas to the Rescue?

It would enhance US economic competitiveness, especially relative to Europe, given the lower costs involved in the extraction of shale gas.

Whereas extraction of America s extensive reserves of natural gas was previously thought to be unfeasible, technologies such as hydraulic fracturing ( fracking ) have ushered in a shale gas revolution.

I'm proud to be working in the industry of the future.

Indeed, shale gas extraction is so economically favorable that even American gas exported to Europe would cost 30 less than what the Russian energy giant Gazprom currently charges.

Shale gas wells deplete far more rapidly than conventional fields do.

The boom in this so called shale gas production has allowed the United States to become almost self sufficient in natural gas.

The advent of shale gas has confused the energy debate even more. If gas is substituted for coal, it can be a useful bridge to a low carbon future.

Recent breakthroughs have allowed the extraction of unconventional natural gas, such as shale gas, which might help offset decline in the years ahead.

Shale gas is abundant in Europe and North America, in contrast to oil and gas.

Within the past six years, shale gas alone has doubled potential gas resources in the United States and halved the price.

An additional 24 of the natural gas supply is extracted or imported in the region.

The plan highlights the need to take advantage of the opportunities afforded by shale gas and newly discovered oil reserves.

Jorma Ollila, Chairman of Royal Dutch Shell, described the global map of major shale oil and gas deposits.

Even the much heralded shale gas revolution is a lot of hype 160 similar to the gold rushes and stock bubbles of the past. Shale gas wells deplete far more rapidly than conventional fields do.

By 2035, shale gas is projected to account for roughly one half of total US energy production.

Maybe Europe will become a leader in advanced fracking when the shale gas deposits in the US have already been exhausted.

Indeed, thanks to the new techniques in hydraulic fracturing and horizontal drilling, shale gas may well become the dominant energy resource of the future.

The most promising breakthrough may well be the discovery of huge reserves of shale gas all over the planet.

Shale gas could thus reduce dependency on OPEC oil and gas while reducing carbon emission.

Annual growth in shale gas production has increased from 17 between 2000 and 2006 to 48 between 2006 and 2010.

However, the rise of fracking should be viewed with caution Poorly managed fracking facilities can leak methane, a potent greenhouse gas and shale oil, to which many frackers are turning, is much more emissions intensive than shale gas.

In principle, Mexico s economy should be benefiting from the same shale gas revolution that is providing a huge boost to the US, where natural gas prices are now less than one quarter of what Europeans pay.

And incorporating shale gas into the world s energy mix could help to combat climate change by creating a bridge to a low carbon future.

A strong and dynamic US economy, reinvigorated by cheap shale gas and accelerating innovation, would rejuvenate the global economy as a whole.

Of course, technological advances, like hydraulic fracturing ( fracking ) in the shale gas industry, could increase supply and therefore lower prices.

He correctly identified this 'food of life' with the gas (also oxygen) given off by heating nitre (saltpetre).

In fact, the United States is now investing heavily in natural gas without recognizing or caring that its shale gas boom, based on new hydraulic fracturing technology, is likely to make matters worse.

From an economic (and environmental) standpoint, fracking is thus unlikely to bring large benefits for Europe shale gas might simply substitute for plentiful conventional gas.

The real issue is thus not whether shale gas should be developed in Europe, but when it should be used today or tomorrow.

Tar Sands and Shale.

The question today is whether a new upsurge of investment will come to our rescue. Optimists point to the shale energy revolution in the US.

America s rapid switch to natural gas is the result of three decades of technological innovation, particularly the development of hydraulic fracturing, or fracking, which has opened up large new resources of previously inaccessible shale gas.

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In fact, estimates by the International Energy Agency suggest that the most significant recoverable reserves of shale gas are in the US and China, not Europe.

Not through the cliff dwelling.

It costs no more to extract oil or gas today than it did when prices were one third of their current level.

But pro fracking critics of the European Union miss a second point the EU has no authority over the development of shale gas in Europe.

Even the much heralded shale gas revolution is a lot of hype similar to the gold rushes and stock bubbles of the past.

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The US economy s road to recovery is being built on the shale gas revolution, a revived manufacturing sector, and a decline in the US budget deficit in GDP terms.

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