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Feb 22, 2012

Profits dip for U.S. energy producers

Technological developments such as hydraulic fracturing have caused natural gas production and therefore supply to surge at the same time that a mild winter is causing demand – which equates to price – to plummet, Bloomberg Businessweek reports. The result is several of the biggest energy producers in the United States experiencing the greatest decline in profits since the 2008-09 recession, which is driving many of them to curtail natural gas production in favor of the more lucrative oil drilling, the article said. For more read the full story here.

Posted by M. Warnock  in  United States  






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