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Spain’s oil deposits and fracking sites trigger energy gold rush

Posted on 27 March 2014

Spain is already the world’s largest olive oil producer but now it’s looking to a very different kind of oil to pull it out of economic decline: petroleum. The discovery of two significant offshore deposits, and prospects for fracking in many areas, have triggered a black-gold rush, with demand for exploration permits up 35% since 2012.
A report published this week by Deloitte says the oil industry could create 250,000 jobs and constitute 4.3% of GDP by 2065. The report is based on an estimate of 2bn barrels of oil and 2.5bn cubic metres of gas…………………………………Full Article: Source


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