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Unconventional wisdom: an economic analysis of US shale gas and implications for the EU

Despite very low and ultimately unsustainable short-term prices of natural gas, the unconventional oil and gas revolution has had a minimal impact on the US macro-economy.

  • More important factor than shale gas explain the reduction of US CO2 emissions (EEff, economic crisis, RES).
  • Reduction in household gas bills insignificant.
  • The US is and will remain a significant importer of oil and gas.
  • Macro-economic impacts are small and largely local, the growth of shale gas related sectors is small relative to the economy –> No “shale-driven renaissance”.
  • Positive economic impacts are limited to a small number of gas-intensive sectors
  • EU: Continuing rise of EU gas import dependency, gas price will remain dependent on international markets, negligible impact for manufacturing.

Bibliography:
Thomas Spencer, Oliver Sartor, Mathilde Mathieu
Unconventional wisdom: an economic analysis of US shale gas and implications for the EU
Institut du développement durable et des relations internationales (IDDRI), Feb. 27, 2014

See also:
Arthur Neslen and Frédéric Simon, Europe abandons hopes of US-style shale gas revolution. EurActiv, Feb. 28, 2014
Anne Feitz, Les gaz de schiste ne sauveront pas l’Europe. LesEchos.fr, Feb. 12, 2014
Sharon Kelly, The View from Europe: America’s Shale Boom Looks More Like a Blip. DesmogBlog, Mar 4, 2014

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