Shale not a miracle solution for Europe

PARIS, Feb 13 (AFP): Shale oil and gas have had limited benefits for the US economy and their advantages for Europe will be even slimmer, a French think tank said Wednesday.

The shale boon in the US has mainly benefited local economies and the gas industry with only "minimal" impact on macro-economic growth, the Institute for Sustainable Development and International Relations (IDDRI) said.

A sharp fall in gas prices that has benefited consumers is unlikely to be sustained, and for the foreseeable future, the United States will remain a big importer of crude oil, it said in an analysis.