How QE created the shale boom and Europe Climate Alarm is a response to it.
It is possible—even probable—that QE was only effective as a mechanism to accentuate the shale boom through the exchange rate.
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The shale success cannot be emulate by the EU. While the US becomes independent of the OPEC, EU wanted that too. But they do not have the heart to dig for shale.
This study shows EU has no stomach for shale
Shale Gas for Europe – Main Environmental and Social Considerations
The potential environmental externalities of current extraction technologies for shale gas are often viewed as the main threat to the future of the shale gas industry. The most important environmental concerns regarding shale gas production appear to be associated with water.
They are the following: 1) Large freshwater demand. Although the absolute pressure of shale gas extraction on total water resources may be modest, it could become severe in regions that are already experiencing water deficits.
This is particularly important for the EU, where water availability per capita is relatively low; 2) Contamination of freshwater, mostly by methane and fine particles; 3) Underground and surface pollution by hazardous chemicals, which are used as fracturing agents, and/or with heavy metals and radioactive elements mobilized by fracturing water; 4) Wastewater handling, treatment and disposal. The sustainable management of freshwater resources and wastewater streams requires an excellent knowledge of geology, prudent exploitation of shale gas deposits, full and complete disclosure of the chemical 5 components that are employed, cautious land-use planning, stringent building and operational standards, and strict governmental control over operational safety and security.
Apart from water, other potential environmental conflicts of industrial exploitation of shale gas include: 1) Visual landscape disturbance; 2) Impacts on biodiversity and natural conservation, particularly potential conflicts with Natura 2000; 3) Higher noise levels; 4) Worsened local air quality; and 5) Seismic concerns.
publications.jrc.ec.europa.eu
Putin was obviously very very happy with that EU stance.
The EU decided that their non-shale alternative was to stop using fossil fuels !
They decided to create plan to use their QE, not to get self sufficiency in petroleum, but stop suing it.
Thereby creating a whole non fossil fuels industry.
How can you do that? Tell that the world is collapsing because of fossil fuels use and kick start a new And there we have the whole climate alarm non-sense |
