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Monday, January 27, 2014

Analyst Offers Four Bold Energy Predictions for 2014, Including Lower Oil Prices

From The Motley Fool:
From American energy independence to pipeline battles, 2013 was an exciting year for the energy industry. But what's in store for the oil patch in the new year? Here are my top four predictions.
1) Oil prices are heading lowerOn the Gulf Coast, America's refinery hub, oil is in such plentiful supply that most experts in the industry are talking about the coming glut. 
Thanks to new technologies like hydraulic fracturing and horizontal drilling, billions of barrels of previously unrecoverable oil and gas are now being extracted from shale beds across the country. In North Dakota, Bakken production is nearing 1 million barrels per day. In Texas, Eagle Ford output has already crossed this important milestone. Investors made a bundle in 2013 thanks to big production gains.
There's only one problem: America is running out of capacity to actually refine all of this new production. 
The article goes on to predict that the low oil prices won't help prices at the pump, that the Keystone XL pipeline will not be approved, and that the international shale boom will begin to gain steam.  Read more by clicking here.

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