[Praxeologue]

Shale Oil is why U.S. natural gas is $4.50/mcf, rather than $15.00 as in Tim Morgan's country and elsewhere in the world. If Europe is foolish enough not to develop its own shale gas resources, then U.S. entrepreneurs will compress U.S. natural gas to LNG, ship it to Europe, decompress it, all for around $4.00/mcf and sell it to the Europeans for $15.00/mcf, pocketing a nice $6.50/mcf profit.

Go ahead Europe, leave it in the ground and make yourselves a customer of ours. While we gear up our LNG facilities, Putin will have his way with you.

The Telegraph and the UK Conservative Party have become what Margaret Thatcher referred to as "wets".

[Lorianne]

Obviously we could do that. At some (high) price it would be profitable to extract and export natgas and shale oil.

But that would make our energy prices much higher as well.