Germany Wants To Be A Player In The Global Fracking Boom

Cologne, Germany

Photo: Wikimedia

Germany wants to end its virtual moratorium on fracking, Der Spiegel reports.“Parliamentarians from Angela Merkel’s governing centre-right coalition of the conservative Christian Democratic Union, their Bavarian sister party the Christian Social Union, and the pro-business Free Democrats (FDP) want to jumpstart the extraction of shale gas deposits in the country. As such, they have agreed on key measures for tapping virgin deposits ahead of this year’s federal election in the fall.”

While the country doesn’t have an official ban, the government has so far refused to grant permits to drill using the process¬†over safety fears.

Read the full story on DerSpiegel.de >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.