Abstract
The shale gas exploration and development is now a delicate and controversial subject. It is often assumed that unconventional exploration and extraction automatically brings prosperity for local, national and regional economies. In this paper, we argue that shale gas development requires a contextualized understanding of regional issues. We are also trying to identify the opportunities and the risks of shale gas development in Eastern Europe (referring to Romania’s case) and offer a cost-benefit analysis model that may be of interest to any policymakers and investors.
Highlights
The true magnitude of environmental risks due to the use of unconventional technologies in shale gas exploitation continues to be the topic of discussions that take place in both scientific environments and civil society
In Romania, the risk of such small earthquakes occurring once the shale gas exploration began in Barlad has fueled the fears of public opinion that these relatively minor seismic movements might trigger more intense earthquakes in areas with major earthquake risk like Vrancea, which is located at about 100 Km from the site to be explored
In any decision-making process with respect to the opportunity of shale gas exploitation, all the benefits and potential costs should be taken into account to determine, eventually, whether the potential benefits are worth taking risks that will be reflected on the environment, public health and local economies. In this respect we suggest a model of cost-benefit analysis (Table 1) which, far from being exhaustive, can serve as a necessary tool to economic and social policy holders in any area with potential in the development of shale gas operations
Summary
The true magnitude of environmental risks due to the use of unconventional technologies in shale gas exploitation continues to be the topic of discussions that take place in both scientific environments and civil society. A series of assessments of greenhouse gas emissions, of life cycles as well as of the Sustainability 2015, 7 resources and the local needs are in the attention of researchers, industrial actors and non-governmental organizations with a view to clarifying their impact at local, regional and global level. Polemics on the subject have always provided too little relevant information about technical operations, managerial and political interventions which could reduce the effects associated with unconventional extraction of resources as well as with the costs and real benefits of shale gas exploitation, in comparison to other conventional and renewable resources. The current paper intends to focus on the need for the contextualization of such consequences in relation to the impact of other methods of energy production as well as on the need for the analysis of local and regional circumstances that determine the level and dynamics of benefits and costs associated with the exploration and development of shale gas
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