Energy-poor Spain establishes friendly fracking rules

The Spanish government has altered national rules for fracking in a bid to support economic growth in one of Europe's most energy-poor nations.

Spain imports about 99% of its oil and gas needs, and high energy costs have been a major obstacle to recovery after the country's recent, devastating construction and housing bubble burst.

The changes will provide more legal certainty to exploration companies, Bloomberg reports.

“Now, if a regional government prohibits fracking, that would be in conflict with this national law,” said environmental lawyer Abel La Calle.

Seventy licenses have been given to explore for oil and gas in Spain.