Statoil & ExxonMobil Attack No-Fracking Laws
Published on by Water Network Research, Official research team of The Water Network in Business
European laws restricting fracking have come under attack from the chief executives of two of the world's largest oil and gas companies who are calling on policy makers to re-examine the contentious drilling process
ExxonMobil's chief Rex Tillerson, according tothe newspaper, stressed that Europe "could see a natural gas renaissance," similar tothat inthe United States, provided that the governments ofsuch EU states asFrance and Germany legalize the use offracking.
The use offracking inthe United States has made the country the world's leading oil producer. But the controversial extraction method has raised a number ofenvironmental concerns and has caused many protests byenvironmentalists and local communities inEurope.
In May, European Commission Vice President Maros Sefcovic ruled outany possibility ofa boom inshale gas exploration inEurope. Sefcovic cited Europe's geological conditions, density ofpopulation and public environmental concerns asthe main obstacles preventing widespread shale gas exploration.
Fracking increases the danger ofearthquakes and can lead tosignificant ground water pollution, according tothe March's study bythe Berlin-based Energy Watch Group.
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