IEA Releases “Golden Rules” for Shale Gas Drilling

The International Energy Agency (IEA), an independent organization formed in the early 1970s in response to the oil shortage and composed of 28 member countries including the U.S., released a shale gas report report yesterday they call “Golden Rules for a Golden Age of Gas” (a copy of the full report is embedded below). The new Golden Rules report is the IEA’s attempt at encouraging the growth of the natural gas industry. Their “expert” opinion and prescription? Drillers need to behave themselves, countries and local governments need to highly regulate shale gas drilling, and if those two things happen, the general population will accept it.

Saying that drillers need to “earn and maintain their social license to operate,” the report’s chief author maintains that without public trust the very new and in many ways infant shale gas industry will die. She also admits the prescriptions they outline will increase the cost of drilling by at least 7 percent, but she maintains without these measures, that 7 percent will be better than no drilling at all.

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