If you were to read the recent headlines, you would think that Total's (NYSE: TOT) decision to explore shale gas in the United Kingdom was a monumental occasion that needs to be shouted from the mountain tops. In reality, though, this is an extremely low risk move by the company that will barely garner a mention in an earnings release. There are two reasons for this. One of them is that the regulatory environment in the UK is much more favorable than in many other countries in Europe when it comes to oil and gas in general.
The other reason: this is just a drop in the bucket when it comes to the amount of money Total spends on a yearly basis. Tune into the video below to find out why this isn't a big deal for Total and what it can gain by exploring shale gas in the UK.
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