Taken from an article in Saturday's AFR. "The importance of gas...

Taken from an article in Saturday's AFR.

"The importance of gas for keeping the lights on in the European Union's five biggest economies will grow in the next 15 to 25 years, raising the stakes for EU-Russian relations and breaking taboos on nuclear power, Ernst & Young predicts.

Gas based electricity is set to climb from 25% to 40% of UK capacity by 2020, from 17 to 25% in Germany, and from 27 to 45% in Italy, the consultant says.

Gas power is to shoot up from less than 1% to 17% by 2030 in France and from 14% to more than 29% by 2011 in Spain."

The sooner drilling starts the better.