FT: Europe split on benefits of drilling for shale gas

The US estimated this month that the world’s technically recoverable shale gas reserves were 7,299tn cubic feet, a 10 per cent increase on its 2011 calculation.

The top five countries were, in order, China, Argentina, Algeria, US and Canada. Most of the reserves being explored in these countries are not causing controversy because they are in sparsely populated areas, or the governments are riding roughshod over opposition.

It is a different matter in Europe. Based on the US data, the continent’s combined resources – which do not include the latest British calculations – would put it in seventh place, if Russia is not included. However, the opposition is far greater.  MORE