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Snub Shale At Your Own Risk
American Shale Boom Imperils 30 Million European Jobs

The shale revolution has been a uniquely American phenomenon, and that’s provided the U.S. with a new competitive advantage: cheap gas. Thanks to fracking, America is suddenly flush with natural gas, as well as a burgeoning supply of natural gas liquids (an important chemical feedstock and natural gas drilling byproduct). That’s attracting the interest of petrochemical companies around the world, and especially in Europe, where green opposition to fracking has prevented industry from reaping similar benefits. The chief economist of the International Energy Agency warned that this development is putting tens of millions of European jobs at risk, Bloomberg reports:

Manufacturers of petrochemicals, aluminum, fertilizers and plastics are leaving Europe to take advantage of booming U.S. production of natural gas from shale rock formations, Fatih Birol, chief economist for the International Energy Agency, a Paris-based adviser to 29 nations, said at a conference in London today.

“Many petrochemicals companies in central Europe are moving out,” Birol said. “Thirty million jobs are in danger.”

Europe’s loss is America’s gain. The continent’s policymakers might want to take a closer look at fracking; it would not only support industry, but it would also help reduce dependence on imports of Russian natural gas.

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  • Angel Martin

    no chance. the euros “solution” will be to lobby for some internationally imposed ban on fracking

    • brerol

      EU will certainly make their case. But in the end the USA will do what is in their own best interest.

  • S.C. Schwarz

    Obama would do the same thing to us if he could. Thank goodness for Republicans!

  • PKCasimir

    Thirty million jobs in Central Europe are dependent on the petrochemical industry? Balderdash!

    • brerol

      Agree. Though millions of jobs loosely connected to Europes chemical and oil business might be at risk.

  • Jacksonian_Libertarian

    The European businesses will make the financially sound decision and move production to the US, or they will become uncompetitive and become extinct.

  • Dan Kimble

    I DOUBT 30 MILLION JOBS is any where near accurate. The chemical industry has no where near that number of jobs……..all of manufacturing in Europe might be of an order of that figure…..

    Don’t forget, jobs in Asia will have the same incentive to come to the US. This is the real boon the fracking revolution has had for the USA. Those who are trying to shut it down are very destructive to America. They do not understand that fracking is quite benign, and the boost it has on our economy for bringing manufacturing to America back from Asia, from everywhere, really.

    Yes, European jobs are at risk….so are Asian jobs, Mexican jobs….etc. So, the shoe is on the other foot now.
    Expediter truck used to carry emergency freight on an immediate basis, non stop to destination. This is a small expediter truck, judging from the size of the sleeper. Expediters like this generally have two person crews, often husband/wife teams, so that they can travel a thousand miles or twice that, essentially, non stop. This one may be a one man truck, limited to emergency runs of a few hundred miles.

  • Jason Mayo

    Surely, this analysis is flawed! If 30 million jobs may be moved to the US, a well documented paper is in order. This presentation is why blogsain’t exactly high journalism.

  • PapayaSF

    As I understand it, under European law landowners do not own the rights to oil etc. under their land, thus they have no incentive to allow drilling, and only incentives to object.

  • rhcrest

    What the heck kind of a misleading headline is this? Europe, BECAUSE OF ITS OWN ACTIONS, is imperiling its jobs. America isn’t causing anything. Do they teach anything at journalism school anymore?

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