For several years the focus of the energy sector has been on the supply side. A lingering economic recession has kept demand pressures from building across much of the sector – crude oil being an exception at times – and the notable surge in supply of natural gas and even domestically produced oil has turned analysis and forecasting to focus on the impacts of more supply.
That trend was in evidence at the US Association for Energy Economics summit in November in Austin, Texas, where panelists from companies including Williams, Enbridge and Ranger Midstream discussed the impact supply side revisions have had on their businesses. The significant opportunity to displace imported oil is highlighted by speakers here, noting the trend days before the release of an International Energy Agency report that forecast the US could become the single largest oil producer in the world.
For more from the USAEE event, including videos and other coverage, visit our hub for the event here.