While it may be easy to complain about energy prices in the U.S., it's nothing compared to what people pay in Europe. Yet, despite high prices and the discovery of shale resources, countries that do have resources can't seem to get things figured out. This week, Chevron's (CVX 0.57%) plan to explore for natural gas in Ukraine was put on hold as local authorities have to each give their approval before the national government can issue a license to the company. Also, Chevron might not have much to look forward to. Royal Dutch Shell (RDS.A), the company who already has permission to drill in Ukraine, needs to hand over 31% to 60% of the gas it produces to the government.
European countries are becoming the poster child of how issues on the surface can have just as large of an effect on oil and gas drilling as is the prospect of the rocks below the surface. In this video, Fool.com contributors Tyler Crowe and Aimee Duffy discuss why Europe can't match the success of the U.S. in shale drilling, and what investors should look for in European drillers.
