CHART OF THE DAY: America Has A Gigantic Energy Price Advantage Over Europe

The unseasonably chilly weather in the eastern U.S. has sent natural gas prices on a tear.

However, the U.S. natgas prices are nowhere near as high as prices in Europe.

And it's all attributable to the American energy boom.

"North America is experiencing an energy revolution thanks to the technological advances that are opening up vast supplies of shale gas," write the analysts at Societe Generale. "The abundance of cheap, relatively clean energy is a positive supply shock that can increase production and reduce costs. The payoff for consumers, manufacturers and exporters should persist for years to come."

SocGen uses U.K. natgas prices as a proxy for what Europe has to pay.

It seems U.S. consumers of natgas have little to complain about.