Breitling Oil and Gas Texas and California Morning Podcast #401

Fracking, the energy industry’s high-pressure method of extracting fuel from shale, has spawned fierce fear mongering, protests, movies and even fear of earthquakes. However, that is actually plenty exciting for consumers—after all, even the current cold snap in the Eastern U.S. hasn’t lifted natural gas prices and that means cheaper electricity.

Fear has also been quietly seeping out of the oil market. Granted, rising U.S. oil output isn’t enough to allow consumers to simply ignore the Libyas and Irans of this world but oil has remained pretty much range bound this year. In a report released the International Energy Agency forecast production from outside of OPEC to grow by 1.8 million barrels per day in 2014—the highest in the IEA’s forecasting history. Half of that gain is set to come from the U.S.

 

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