Wow, Isn't This The Truth -- Europe: The Odd Man Out

Rigzone is reporting:

Russia and China will lead the way in the production of resources from shale after the U.S., according to executives, but Europe will likely lag behind.

Torbjorn Tornqvist, chief executive of trading house Gunvor, said Wednesday it was clear that shale production on a scale similar to that in the U.S. is possible in several of the world's biggest current energy producers and consumers -- but that Europe is unlikely to be transformed by it.

He also said that China, Australia and South America were promising as a shale-exploiting countries.

Mr. Tornqvist sounded a much less positive note for Europe, which has so far been divided on its approach to the relatively new technology of hydraulic fracturing, the method of extracting shale resources known as fracking. France has voiced strong opposition to the idea, while the U.K. government has insisted that shale gas production "will happen."

Mr. Tornqvist said: "Europe? You all know the problems there: political problems, no-one really wants to see rigs on the landscape -- and problems and fears about groundwater and so forth will prevent Europe from exploiting its resources, which aren't that big anyway," Mr. Tornqvist said.

I assume when asked about Europe, Mr Tornqvist did all he could to keep a poker face. All he could do to keep from laughing.