WorldWide Drilling Resource

Shale Gas Has the Potential to Create a Million Jobs for EU Adapted from Information by the International Association of Oil and Gas Producers According to a new study commis- sioned by the International Association of Oil and Gas Producers (OGP) and per- formed by an independent consulting company, the development of shale gas in Europe could lead to the creation of up to one million jobs. Utilizing current drilling technology, exploiting Europe’s shale de- posits would also make the industry more competitive and decrease the region’s dependence on energy imports. The research, conducted by Pöyry Management Consulting and Cambridge Econometrics, calculated how much Europe’s economy could benefit from domestic shale gas production. According to the study, shale gas could add a sig- nificant amount of money to the economy between 2020-2050. “Europe is still in a period of difficult economic and social recovery. This new study shows that shale gas production could have significant economic benefits,” said Roland Festor, OGP’s European Union (EU) affairs director. “While it may not be a game changer as in the United States, shale gas development in Europe could take full advantage of the lessons learned. We cannot afford to forego such an opportunity,” he stated. Every cubic foot of gas produced from shale in EU countries translates into more jobs, more disposable income, better security of supply, and ultimately more prosperity. “We encourage policy makers to create the right conditions for explo- ration,” Festor said. The study modeled the impact of domestic shale gas development on the economy of the 28 countries in the EU, using three different scenarios, each with differing production levels. According to the results, shale gas operations could trigger the creation of between 400,000 and 800,000 new jobs by 2035, and between 600,000 to 1.1 million by 2050. Domestic production could reduce dependence from an estimated 89% of demand in 2035, to between 62% and 78%. The less Europe spends on import- 48 APRIL 2014 WorldWide Drilling Resource ® tainer even though it had left a week earlier. Providence works again on behalf of our efforts. If you would like to help, please contact Gary Bartholomew at 509-466-5075 or 509-939-1941 Tim Tim Rasmussen may be contacted via e-mail at admin@ worldwidedrillingresource.com Rasmussen cont’d from page 47. ing energy, the more it can invest stimu- lating national and local economies. Indigenous gas production could also reduce energy prices, which in turn would increase the income available to house- holds and reduce costs for industry, mak- ing European products more competitive internationally. Win a prize! Send your completed puzzle to: WWDR PO Box 660 Bonifay, FL 32425 or fax to: 850-547-0329 Congratulations to: Tim Augustine Bowser-Morner, Inc., Dayton, Ohio Winner for March! Time for a Little Fun! March Puzzle Solution: Cross off the 23 exploration and blasting words, reading left to right and up and down, in the puzzle below. (Some overlap.) Arrange the remaining letters to discover a bonus word. Bonus word: __ __ __ __ __ __ __ __ __ BE PART OF OUR JUNE ISSUE The deadlines are: Space Reservation April 25 th Ad Copy - Display & Classified May 1 st Bonus distribution at CANWELL 2014!