On the road to North American energy independence, the next decade is crucial. And in the New Year, the dramatic rise in U.S. oil production will continue its extraordinary climb.
1. Robust U.S. oil production will keep a lid on prices
At the same time, U.S. petroleum supplies will have a greater reach. In the first quarter of 2013, more of the nation will have access to additional pipeline capacity to alleviate abundant domestic supply — and mitigate any meaningful price gain. After a year full of markets fluctuations, by the end of 2013, oil prices will not have strayed far from where they started the new year.
2. The end of bear market for natural gas is near