advantage and disadvantages of regional approach
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other fossil fuels’ prices and it’s accepted as an important resource for energy supply for the countries which don’t have enough oil and natural gas resources, shale gas became a current issue in the world. Technically producable shale gas in the world is about 6.621 bcm (billion cubic meter). We can say that this amount may be higher if unsought areas are added. Turkey is one of the countries which has shale gas potential. According to a report published by EIA in 2011, Turkey has approximately 424 billion cubic meter shale gas reserves. This shale gas potential can reduce Turkey’s energy dependence if we think of the fact that annual natural gas consumption of Turkey is 46 bcm. Despite all, production of shale gas has not been searched in terms of it’s advantages and disadvantages. The aim of this study is to present the advantages and disadvantages of shales gas for the world and Turkey. Reducing energy dependence, supporting a more clean energy than coal, balancing the oil prices are some advantages. Nevertheless, it’s a fossil fuel, it’s production is expensive and it gets negative social and environmental reactions. Key Words: Shale gas, Energy Economics, Turkey, Advantages and Disadvantages of Shale Gas. 1. Introductıon Energy is a main input for economic activities. Energy is defined as a capacity for doing business and accepted as a power behind every sort of energy and everthing that was changed (Stern, 2004: 37). In literature, the concept of energy was discussed as an ability of doing business for human and animal until industrial revolution. Then industrial revolution caused the usage of steam engine and coal for producing iron. After First World War, oil and natural gas have been used instead of human and animals (Bayramoglu, 2013:5). Although energy is used in every part of life, it’s economic aspects are discussed under a sub-branch of economy, energy economics in this study. Investments and activities to reach natural energy resources provide an increase in accumulation of energy and it’s usage in economic activities. Therefore energy is driving force for the development of countries and has importance for countries’ strategic positions (LadanaiandVinterbäck, 2009:7). After energy crisis in 1970s, alternative energy resouces have been sought. Because the reasons like advancement of technology, reduction of costs, international pipeline projects, supporting the security of supply and increasing energy demand day by day; shale gas potential has been analyzed