Why are gas prices so variable? I've prospected and explored shale for 25 years. You'd think the principal factor would be the resource. It isn't as dominant as you'd guess.
1. Rule of Law 2. Regulatory Competence 3. Regulatory Independence
I will spare you most of it. Not very many places have the resource, but too many of those who do have turned energy into a political football that is bounced around with electoral cycles as a tool to gain power without regard for the populace.
To summarize, gas price is a combination of resource abundance if the regulatory environment is competent and stable.
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