FriedlNews: Austrian E-Control Supports Shale Gas Exploitation

Walter Boltz, CEO of the Austrian energy market regulator, thinks that Europe would benefit from the shale gas exploitation.

According to Boltz, the U.S. would benefit massively from the shale gas boom. It would be unwise to exclude the exploitation in Europe, Boltz says. „The U.S. achieve their climate goals. And in Europe, we invest in expensive renewable energy.“ Boltz says. Last year, the U.S. reduced their greenhouse gas emissions by 2.0%, Boltz argues.

According to E-Control´s CEO, the price of shale gas in the U.S. is only about 25% of the natural gas price in Europe. The U.S. shale gas reserves are said to last for 150 years. It would be extremely unwise not to try exploitation of shale gas in Europe. Boltz refers to the existing shale gas deposits in Austria, which are said to last for 30 years.  MORE