GENEVA – The International Energy Agency (IEA) is preparing recommendations for countries to regulate the controversial shale gas industry, to be published in its global energy report in the autumn.
“If you’re going to have golden gas, you have to have golden rules,” IEA Deputy Executive Director Richard Jones said at a conference in Geneva on Monday, referring to a 2011 IEA report entitled, “Are we entering a golden age of gas?”
The development of shale gas extraction is a potential game-changer in world energy markets, offering ample supplies in markets that could otherwise tighten in coming years.
But the hydraulic fracturing, or fracking, technology used to extract shale gas requires large amounts of water and chemicals, and concerns about contamination of water supplies and other potential environmental problems have led some governments to ban its use or put moratoriums in place.
Financial Post
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