According to advisors to Federal Economics Minister Katherina Reiche (CDU), domestic gas production through fracking is a possible answer to the Iran crisis. This is what the four economists write in a short report entitled “Escalation in the Middle East: Impact on Europe – and what (not) to do”.

Goal: Reduce export dependency

“One possibility would be to allow gas extraction through fracking, for example, and to seriously examine it in order to reduce dependence on foreign suppliers,” they write. This could also send a signal to the domestic industry that the federal government is striving to ensure security of supply, explained economist Veronika Grimm.

There is currently hardly any gas being produced in Germany. That could change with so-called fracking. Natural gas is released from underground rock. Critics fear groundwater contamination by chemicals, and the Federal Environment Agency also sees this as a risk. Dangers could be significantly reduced, write Reiche’s advisors, citing a Bundestag expert commission.

What quantities there should be in Germany

There are quantities between 320 and 2,030 billion cubic meters (bcm), according to the report, citing other experts. The import of liquid gas from the USA was around 11 bcm last year.

In addition to Grimm, the “Scientific Advisory Group for Economic Policy” includes the economists Justus Haucap, Stefan Kolev and Volker Wieland. The circle is supposed to advise rich people and their homes.