Yesterday I wrote here how Europe, particularly Germany, is driving out industry with sky-high energy prices.
Will Europe deny its citizens a huge reserve of shale gas energy wealth? Looks that way. (Chart source: http://www.eia.gov/)
What follows is what sensible energy policy looks like.
Reader Mick J. left a comment on shale gas that deserves to be bumped up to a post (my emphasis):
First, thank you for the site and the information it brings to us English speakers.
Perhaps this contrast published in March of this year will interest. How chemical manufacturer is returning to the US now that low gas prices resulting from Shale extraction has reduced prices.
Royal Dutch Shell announced this month that it chose a site near Pittsburgh for a facility to convert ethane from locally produced natural gas into ethylene and polyethylene. […] The planned ethane cracker would employ a few hundred workers.
It’s among nearly 30 chemical plants proposed in the U.S. in the next five years, […]. The projects would expand U.S. petrochemical capacity by 27% and employ 200,000 workers at the factories and related suppliers […]. As U.S. natural gas prices soared in the late 1990s, chemical makers moved overseas, laying off 140,000 employees,
…the U.S. has seen a natural gas boom in recent years, with producers using new drilling techniques to extract fuel from shale formations in Texas, Pennsylvania and other regions. U.S. natural gas prices, at slightly more than $2 per million British thermal units, are about 75% below Western Europe rates.
PricewaterhouseCoopers’ partner Robert Mc-Cutcheon estimates inexpensive natural gas could help U.S. manufacturers save $11.6 billion a year and create more than 500,000 jobs by 2025.”
Unless the European government wakes up from its climate-protection fantasy, there will be no need for anyone there to turn off the lights when leaving. They’ll be going out by themselves soon enough.
Also read: http://bit.ly/PhelimNYPOST (h/t Anthony Watts)