As US energy costs tumble on the back of shale oil and gas, the rest of the world is gripped with envy. Just four years ago, natural gas prices in Europe were roughly comparable with those in the US; now they are three times higher. In Japan, they are five times higher. Understandably, countries around the world want a piece of the action.
Governments from the UK and Poland to China and Argentina are dreaming of cheap power and, just as importantly for some, energy security. Shale, many have decided, is the answer. But can the shale gas revolution in the US really be replicated around the world?