Posts by Pras Subramanian

  • UBS Strategist: U.S. will be energy independent by 2020

    Pras Subramanian at Yahoo Finance3 days ago

    Despite the Keystone XL pipeline still waiting final approval (currently in a review process that won’t be finished until after the 2014 midterm), one thing that is for certain is the North American energy renaissance is for real. Domestic production of crude oil and natural gas is on the rise, as the U.S. eyes the possibility of finally achieving energy independence.

    Back in 2006, President Bush in his state of the union address presented the case that the U.S. was addicted to oil. While domestic consumption of oil is down from those days, current consumption and rising demand from abroad could keep this industry chugging along nicely in the U.S.

    Count equity strategist David Lefkowitz of UBS among the believers. Lefkowitz is convinced that within the next decade, the U.S. will finally achieve energy independence. Not only that, but Lefkowitz believes a domestic surplus of natural gas will then make the U.S. a net exporter of the commodity.

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