It would enhance US economic competitiveness, especially relative to Europe, given the lower costs involved in the extraction of shale gas.

Shale Gas to the Rescue?

SECTION B MINING AND QUARRYING 05 05.1 05.10 05.2 05.20 06 06.1 06.10 06.2 06.20 07 07.1 07.10 Mining of coal and lignite Mining of hard coal Mining of hard coal Mining of lignite Mining of lignite Extraction of crude petroleum and natural gas Extraction of crude petroleum Extraction of crude petroleum Extraction of natural gas Extraction of natural gas Mining of metal ores Mining of iron ores Mining of iron ores

Energy exporters such as Russia are feeling the downward pressure on export prices.

Jorma Ollila, Chairman of Royal Dutch Shell, described the global map of major shale oil and gas deposits.

Whether the Saudis succeed will be determined largely by the shale energy industry in the United States.

In the short run, the US shale energy revolution has replaced high polluting coal with cheaper, cleaner natural gas.

( b ) Mining services provided at oil and gas fields , including drilling , derrick building , repair and dismantling services , and oil and gas well casing cementing .

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Even the much heralded shale gas revolution is a lot of hype 160 similar to the gold rushes and stock bubbles of the past.

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From 2007 to 2012, North American shale gas production grew at an average annual rate of more than 50 . As a result, the share of shale gas in America s overall gas production rose from just 5 in 2007 to 36 in 2012.

Of course, technological advances, like hydraulic fracturing ( fracking ) in the shale gas industry, could increase supply and therefore lower prices.

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In the United States, the shale gas revolution, facilitated by the development of hydraulic fracturing ( fracking ), has brought prices to their lowest levels since natural gas gained prominence after the oil crises of the 1970s.

(Indeed, in a world of human robot interfaces, 3D printing, nanotechnology, and shale gas extraction, any innovative company must ask itself this basic question.)

Across Latin America, the boom in oil, gas, and mineral extraction and export extractivism has intensified debate about the trade off between social redistribution and socio environmental impacts.

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Yes, the world needs to address global warming (mainly through higher investments in green research and development, and by promoting exploitation of cheap, less polluting shale gas).

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As yet, there is no commercial production of shale gas in Europe, although a few pilot production tests have already been conducted, for instance in Poland.

Overly complex climate regulations, political resistance to shale gas development, and energy policies that favor expensive, ineffective technologies are largely to blame.

Despite the euphoria around shale gas indeed, despite weak global growth commodity prices have risen by as much as 150 in the aftermath of the financial crisis.

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With many more countries set to tap shale gas reserves over the next decade, this downward trend will most likely continue, helping to lower the price of electricity generation further.

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