“Despite very low and ultimately unsustainable short-term prices of natural gas, the unconventional oil and gas revolution has had a minimal impact on the US macro-economy”
“There is thus no evidence that shale gas is driving an overall manufacturing renaissance in the US.”
“The US shale revolution will not lead to a significant, sustained decarbonisation of the US energy mix nor will it assure US energy security”
“Oil imports continue to rise in monetary terms.”
“There is also the risk that the unconventional oil and gas revolution further locks the US into an energy- and emissions-intensive capital stock.”
“It is unlikely that the EU will repeat the US experience in terms of the scale of unconventional oil and gas production.”
[If plans went ahead] “Shale production would not have significant macroeconomic or competitiveness impacts for Europe in the period to 2030- 2035.”
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