Some interesting analysis from our friends at The Economist on the perception of natural gas extraction in Europe — it is not good.

Typical not in my backyard policy has resulted in wasted resource potential across the continent, at a time when they need natural gas as badly, or perhaps worse, than here in the US.

Euro gas prices (petrol and other) are, on average, quite a bit higher than here, and the untapped potential could serve to alleviate upward pressure on those prices.

Glad that the US is actually taking a more proactive, if tentative, approach. And that is to our benefit.