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Politics thwarting Europe's unconventional oil

The continent has indigenous reserves to exploit. But it also has a lot of opposition to overcome

Global shale oil production could reach 14 million barrels of oil per day (b/d) by 2035, according to PricewaterhouseCoopers, making up around 12% of total global oil supply. And it would be a boon for Europe's hard-pressed economies. Germany and the UK could see GDP gains of between 2-5% on the back of a surge in shale oil production, the consultancy believes. But this is because global oil prices would fall - helping the balance sheets of importing nations - not because European countries will jump aboard the tight oil bandwagon. Europe's share of global output is likely to remain negligible, as limited data and opposition to hydraulic fracturing (fracking) stalls development. It's not t

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