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.