Europe is Worried that Oil Shale will be a big economic advantage for the US

So some of you may have read the short blog I wrote about people protesting against fossil fuels and wanting there governments to turn to more sustainable energies in "The end of the year switch."  I wanted to continue on with a article about the U.S. increasing there oil production.  Well it turns out this increase in oil will not only affect us but will also affect other countries in more than one way.  For example Europe is worried that there energy-intensive businesses will find it harder than ever to compete. 

The United States increase in fracking and drilling is expected to make us almost self-sufficient in oil and gas by 2035 and will overtake Russia in gas production by 2015 and Suadi Arabia in oil production by 2017, is what the International Energy Agency forecasts shows.  Since the advances in drilling and fracking techniques enables easier gas supplies this has lead the fall of gas prices in 2010, but Europe prices still remain high.

In U.S. many industrial manufacturing companies such as petrochemicals, fuel, fertilizers and steel companies are attracted to the cheap energy and are committed to the $90 billion investment according to Dow Chemical, which have already invested money in Louisiana and Texas.

The cheap energy may make us self-sufficient and it may have lowered gas prices but what is all this going to do to our environment and why are gas prices going back up again?