Watching The World: Shale gas battle looms in Europe

The international oil and gas industry is fast learning the importance of shale gas, and the excitement over the relatively new resource is growing—especially in Europe.The driving force of this new direction for the industry is to be found in the US, where recently discovered deposits of shale gas are so large that industry experts believe the country has enough supply to last for a century.This extra supply and the United States' newfound self-sufficiency are said to have created a worldwide gas glut that has driven down prices. But a temporary price glitch won't stop international oil companies (IOCs).To the contrary, many IOC's are now said to be scouring millions of acres of Eu...

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