Could Germany Become The Next Shale Hotspot?

Nuclear power is out in Germany, but could shale gas soon be included in the historic German energiewende?

Up until now, opposition to hydraulic fracturing has also been very strong. But the German government is flirting with the idea of allowing oil and gas drillers to begin fracking. There has been a de facto moratorium on fracking in place for several years, but a new proposal, if passed, could open up the country to drilling by the end of the decade. Under the proposal an expert panel of six government officials would be granted authority to approve fracking at depths greater than 3,000 meters below the surface.

Careful about wading into controversy with traditionally green-thumbed German citizens, German officials are billing the move as an environmental protection. “It is important to have a legal framework for hydraulic fracturing as until now there has been no legislation on the subject,” said Maria Krautzberger, president of Germany’s federal environment agency (UBA), according to the Guardian. “We have had a voluntary agreement with the big companies that there would be no fracking but if a company like Exxon wanted, they might do it anyway as there is no way to forbid it,” she added. “This is a progressive step forward.”

Although estimates are foggy, given the lack of exploration, Germany could be sitting on 25 to 81 trillion cubic feet of shale gas.

Full article: Could Germany Become The Next Shale Hotspot? (Oil Price)

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