European Fracking Bans Open Market for U.S. Gas Exports
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Opposition to a drilling technique known as hydraulic fracturing has slowed the development of natural gas in Europe, creating export opportunities for U.S. producers hurt by low prices and a glut of gas at home.
Fracking, as the practice is known, was temporarily suspended in the United Kingdom after it was linked to a series of earthquakes. Bulgaria and France -- home of the continent’s largest estimated reserve -- outlawed it over environmental concerns. Some other countries are poised to impose moratoriums on the process, in which water, sand and chemicals are pumped underground to free gas trapped in rock.