Thousands protest Chevron’s shale gas plans in Romania
Thousands of Romanians across the country protested on Thursday against Chevron’s plans to explore for shale gas, demanding the country’s leftist government withdraw concessions and ban drilling of the US company’s first test wells. Chevron has exploration rights for three blocks of 670,000 acres near the Black Sea, and has also bought the concession close to Barlad, on the eastern border with Moldova, for an undisclosed amount. Hydraulic fracturing or fracking to extract shale gas involves injecting water and chemicals at high pressure into underground rock formations. Experts say that if it is done according to best practice it is environmentally safe, but the technology still evokes public concern. The US Energy Information Administration estimates Romania and neighboring Bulgaria and Hungary could have 538 billion cubic meters of shale gas between them, slightly more than Europe’s annual consumption and enough to cover Romania’s for almost 40 years.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.