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At the "Brussels Forum" organized by the German Marshall Foundation recently, the shale gas revolution took center stage as a key topic of discussion among European and American scholars and policymakers. They argue that the hydrocarbon energy transformation, particularly the rise of shale gas, is quietly reshaping global energy dynamics, industrial structures, and even the world economy. The increasing availability of shale gas could significantly lower the prices of traditional natural gas and coal. Moreover, countries like China and Russia, which are believed to hold substantial shale gas reserves, may play a major role in influencing global energy markets. In the U.S., the shale gas boom has already boosted economic competitiveness, giving American industries a cost advantage and reinforcing its position as a global economic leader.
Todd Edwards, a senior researcher at the Free University of Brussels, told this reporter that the U.S. is currently leading in shale oil and gas technology, successfully extracting and supplying these resources to meet domestic demand. The country is expected to reduce its reliance on Middle Eastern oil in the future, with other nations following suit. However, Europe lacks significant shale oil and gas deposits compared to regions like North Dakota. While the development of shale gas represents a potential energy revolution, many in Europe are still unprepared for it. Nonetheless, an increasing number of EU officials and experts are urging action, recognizing the long-term importance of securing energy independence.
A recent report from the European Dynamics website titled *"Shale Oil and Gas Trading Does Not Necessarily Spark the British Energy Revolution"* highlighted that a major British energy company has signed an agreement seen as a step toward greater energy security under Prime Minister David Cameron. It’s reported that nearly 2 million British households will soon receive shale gas heating services from a U.S. company, marking the first such transaction in continental Europe by an American firm.
According to the U.S. Energy Information Administration, Europe's recoverable shale gas reserves are mainly found in France, Poland, and Ukraine. However, France and Poland have banned shale gas extraction due to environmental concerns. Meanwhile, Shell and Ukraine have signed a $10 billion deal for shale gas exploration, but the project has faced public protests.
Environmental concerns remain the most pressing issue for Europeans regarding shale gas extraction. Critics argue that the process involves injecting water and chemicals into rock formations at high pressure, potentially causing microseismic activity and groundwater contamination. These fears have led to strong opposition against shale gas development. Yet, the prevailing view in Europe is that the continent must not fall behind in the global energy transition. As the Climate Change Action Committee emphasized, this is a crucial policy goal for energy security across Europe, helping to mitigate the risks of volatile oil and rising gas prices—key factors for long-term economic stability.