Western Europe: Gas Fever & Coal Chills

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Amid such protectionism, natural gas is unlikely to be allowed to steal coal and oil markets by means of price wars. But at least gas should place a ceiling over fuel costs on the Continent—which in itself would be an event of considerable consequence. With Europe's historic surplus of cheap labor gone, developing cheap fuel looks like the most promising way to help the Continent keep its industrial products priced competitively in the world's markets.

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