Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. 24/7 Space News .




ENERGY TECH
EU leaders face up to shale challenge
by Staff Writers
Brussels (AFP) May 22, 2013


EU leaders agreed Wednesday to face up to the challenge posed by the shale oil and gas revolution which has slashed US energy prices, undercutting Europe's competitive edge.

"All leaders are aware that sustainable and affordable energy is key to keeping factories and jobs in Europe," European President Herman Van Rompuy said.

"Industry finds it hard to compete with foreign firms who pay half the price for electricity, like in the United States," Van Rompuy said at the close of an EU summit focused on energy and tax evasion.

Britain, Hungary, Poland, Romania and Spain favour developing shale energy but others, and France in particular, are reluctant or opposed, citing environmental fears.

Mindful of such sensitivities, Van Rompuy said member states "countries could also develop safe and sustainable ways to tap other resources - conventional and unconventional.

"Yes, this includes shale gas, which could become part of the energy mix for some member states, perhaps less for others."

The EU's 27 heads of state and government met amid fears the US-led shale boom will reshape the global economy and leave Europe far behind.

Stuck in the doldrums, the European economy has lost nearly all momentum, with growth hard to come by and rising energy costs a real concern.

"We need to secure good value energy supplies ... (which) involves making most use of indigenous resources, such as shale," said British Prime Minister David Cameron.

"We need to ensure that the old rules do not hold us back ... regulation must not get in the way" of developing such resources, he added.

"Rising energy prices are a real problem," European Parliament head Martin Schulz told the one-day summit, putting EU companies "at a competitive disadvantage" against US firms.

"That is the bad news: if we do nothing, energy costs will continue to increase, and our energy dependence on third countries will increase with them," he said.

"The good news is that energy policy in particular offers enormous potential for boosting growth, improving competitiveness and creating jobs."

The challenge is enormous for a Europe which paid more than one billion euros a day for its energy imports in 2012.

Van Rompuy had warned ahead of the meeting that Europe risked "becoming the only continent to depend on imported energy.

"In 2035, we will still depend on imports for more than 80 percent of our energy needs and that will have consequences for our competitiveness and our companies," he said.

Last week, the International Energy Agency said North American shale energy production had set off a global "supply shock" that is reshaping the whole industry.

"The surge in North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand over the last 15," the IEA said

While the benefits are clear, shale oil and gas also comes with a potentially high environmental cost which worries many.

Critics say hydraulic fracturing -- 'fracking'-- of rocks deep underground to release oil and gas threatens water supplies and may even set off earthquakes.

The summit conclusions said leaders agreed to work in four areas -- establishing a fully integrated energy market, boosting investment, diversifying resources and improving energy efficiency.

While highlighting the "diversification of Europe's energy supply," the conclusions did not mention shale directly, reflecting the sensitivity over shale development.

"In the current economic context, we must mobilise all our policies in support of competitiveness, jobs and growth," the summit conclusions said in the very first line.

"The supply of affordable and sustainable energy to our economies is crucial in that respect," it added.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





ENERGY TECH
French-Asian firms reveal LNG contract in Canada
Paris (AFP) May 22, 2013
A consortium comprising French, South Korean and Chinese companies has won a contract for a liquefied natural gas project in Canada, the French partner Technip said on Wednesday. The other partners are Samsung of South Korea and Huanqiu of China. The value of the contract was not divulged. Liquefied natural gas (LNG) is a rapidly growing component of the energy sector, in large part ... read more


ENERGY TECH
Moon being pushed away from Earth faster than ever

Bright Explosion on the Moon

NASA says meteor impact on the moon glowed like a star

Where on Earth did the moon's water come from

ENERGY TECH
Mars Rover Opportunity Examines Clay Clues in Rock

Opportunity Rides Into History For Offworld Drive

NASA Mars Rover Curiosity Drills Second Rock Target

Mars Icebreaker Life Mission

ENERGY TECH
Desert Tests Pave Way for Human Exploration of Small Bodies

Russia designs reusable spacecraft good for as many as five missions

British astronaut 'Major Tim' to fly to ISS

Danish Space Venture ready for lift off

ENERGY TECH
China launches communications satellite

On Course for Shenzhou 10

Yuanwang III, VI depart for space-tracking missions

Shenzhou's Shadow Crew

ENERGY TECH
Next destination: space

Russia to Send 'Stress-Relief' Software to ISS

Mice, gerbils perish in Russia space flight

Star Canadian spaceman back on Earth, relishing fresh air

ENERGY TECH
O3b Networks Launcher and payload integration are underway at Kourou

Arianespace underscores strong partnership with Japan during Tokyo meetings

O3b Networks' initial satellite is fueled for Arianespace's upcoming Soyuz launch from the Spaceport

Ariane Flight VA214's launch vehicle marks a preparation milestone

ENERGY TECH
Critical Kepler Reaction Wheel Fails: Mission End In Sight

Sifting Through the Atmosphere's of Far-Off Worlds

New Method of Finding Planets Scores its First Discovery

Team Takes Part in Discovering New Planet

ENERGY TECH
Iron-platinum alloys could be new-generation hard drives

Computational tool translates complex data into simplified 2-dimensional images

3-D modeling technology offers groundbreaking solution for engineers

NASA Seeks High-Performance Spaceflight Computing Capabilities




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement