The shale gas revolution in the United States has led to a collapse in prices but is too big to keep to ourselves. That is turning natural gas from a domestic market to a global one, and the global demand may cure the current low prices.
Should $100 oil be forgot and never brought to mind? Oil made one last attempt to go above $100 a barrel but backed off as we end the year. It was a year that saw a surge in U.S. oil production and record natural gas production.
The oil market is getting foggier as the American Petroleum Institute reported 12.4 million barrels drawdown in supply. The market seemed to sense what was coming as the market rallied into the number and exploded afterwards. Yet this shocker caused a massive rally.
German Chancellor Angela Merkel faces one task above all others when she returns to her desk on the seventh floor of the Chancellery: fixing the biggest shift to clean energy of any developed country in history.