Dr. Hubert Mandery, Cefic Director General, recommends that Europe should advance exploration of shale gas in order to stay competitive.
For the first time, the European Council will hold a summit devoted exclusively to industrial competitiveness; and shale gas will be high on the agenda.
Whereas the USA sees a shale gas revolution re-vitalizing their economy, the European economy is only slowly emerging from recession. Mandery warns that European producers will be forced to invest where energy and feedstock are cheaper to stay competitive, if Europe will not advance exploration of shale gas.
Concerns about shale gas risks should not be taken lightly; he recommends that the shale gas framework of the European Commission must require high standards. On the other hand he thinks that all concerns can be addressed and that the framework must be enabling.
“A newly-completed study by independent consultants for the International Association of Oil & Gas Producers suggests that extracting shale gas could add 1.1 million new jobs in Europe by 2050 and bolster GDP by up to €3.8 trillion“, Mandery says.
“Renewing Europe’s industrial competitiveness, like everything in the political and business world, will take resolution and courage.”
- Serious about European competitiveness? Go for shale gas,
Cefic Director General Hubert Mandery,
December 20, 2013.