Keeping an Eye on Energy in 2012 Print E-mail
Written by AlterMyEnergy   
Monday, 05 December 2011 00:00

Canada’s energy industry saw markets for its two main products head in sharply different directions in 2011: Global oil prices (CL-FT100.700.110.11%) averaged a record high $111 (U.S.) per barrel for the year, while natural gas prices in North America languished.

That disconnect prompted North American companies to focus their exploration on crude, and on natural gas plays that offer the prospect of extremely low-cost supply or “liquids-rich” gas that contains high-value propane and butane.

In 2012, companies are likely to continue that shift, while high-profile battles over the oil sands, pipeline projects and fracking will also persist. At the same time, both crude oil and natural gas prices may reverse course modestly during the year, as natural gas demand picks up and supply growth slows, and as global suppliers boost production as developed economies struggle out of recession.

Read the full article here.

Last Updated on Thursday, 19 January 2012 19:38
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