Spain’s oil deposits and fracking sites trigger energy gold rush

Major offshore oil discoveries and prospects for shale gas extraction in Spain triggered a black-gold rush, with demand for exploration permits up 35% since 2012.

A report published in March 2014 by Deloitte says the oil industry could create 250,000 jobs and constitute 4.3% of GDP by 2065. The report was based on an estimate of 2bn barrels of oil and 2.5bn cubic metres of gas.

Deloitte predicts that Spain could become a gas exporter by 2031 while producing 20% of the oil it consumes.

ESO: Background information: Mediterranean playground for oil groups http://www.europeansources.info/record/mediterranean-playground-for-oil-groups/

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