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European Commission Paves the Way for Fracking

With its most recent set of recommendations, the European Commission has paved the way for widespread fracking operations. Instead of more stringent environment laws, the EC has imposed non-binding guidelines on states intended to safeguard against water and environmental impacts. This came as good news to the UK, Poland, Hungary, and the Czech Republic – some of the most notable opponents to the European Union-wide regulation of shale gas extraction, as they hope to see the shale gas industry bring jobs, development, and energy independence to their countries. Fracking is a controversial form of shale gas extraction that involves pumping a cocktail of highly pressurized chemicals deep into the Earth’s crust in order to release gas reserves. The process poses extreme risks to groundwater sources and the environment.

In the UK, the business is already booming.  The French energy giant Total would like to participate in the business, too.
The big gas companies in Germany are Wintershall (subsidiary of BASF), Exxon, RWE Dea, EWE and VNG.
Also, the chemical company BASF plays an active part to promote fracking.

Click on the companies to find out the major shareholders (i.e. Black Rock).

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