These two factsheets show that shale gas is not the economic miracle heralded by its proponents. Using figures from key industry sources and economic experts, these documents show that shale gas could at best only represent 2-3% of the European gas demand in 2030 and could be up to three times more expensive to develop compared to the US.
The American myth of ‘cheap and abundant’ energy from shale gas is based on artificially low prices driven by speculation and industry overestimates. Trying to repeat this experience in Europe would only lead to even higher gas prices and would lock public subsidies into fossil fuel use at the expense of renewable energy and energy efficiency policies.[Translation in French and German]