Is The Flaring Problem Moving To Texas -- And Why Is Europe Not Participating? Shale Gas is Everywhere -- Somehow Related to the Bakken, North Dakota, USA

Link here for the Wall Street Journal-Europe via JunkScience.com.

In the U.K. last week, politicians hailed the good news as utilities cut a meagre 5% from their customers’ sky high gas bills. Meanwhile, in the U.S., natural gas has become so abundant and the price so low that a company in Texas was burning the stuff off as a waste product.

In an age where ships carry liquefied natural gas from one side of the globe to the other, surely Europe should expect to see some benefit from this situation? Sadly, the answer is: Not any time soon.

There has been such a surge in production that existing pipelines cannot cope. Goodrich Petroleum has been burning off gas it produces from an oil field in Southern Texas because the nearby pipeline is full and the price of the gas wasted isn’t high enough to justify shutting down oil production.

Sounds like another opportunity for the pipeline companies.