Telegraph: Shale predicted to add £3 trillion to Europe's economies
Fracking and the development of shale gas in Europe could create one million new jobs and add up to £3 trillion to the value of European economies, new research has found.
Shale gas has the potential to make flagging industries more competitive and reduce dependence on expensive energy imports but is under threat from European Union regulators who fear the environmental impact of extracting the resources.
The research carried out by independent consultancies, Poyry Management Consulting and Cambridge Econometrics, is published as the European Commission prepares legislation later this year to regulate shale-gas extraction through hydraulic fracturing, a procedure known as fracking. MORE