Retail sales took a modest dive last month, but the prevailing explanation places the blame on Hurricane Sandy. That’s a plausible excuse for October’s consumption retreat, although it’ll take time to confirm, which means that it’s not immediately obvious that we can dismiss today’s news as a one-off event.
Daily Archives: November 14, 2012
Strategic Briefing | 11.14.12 | The Revival Of US Energy Production
North America leads shift in global energy balance, IEA says in latest World Energy Outlook
Int’l Energy Agency | Nov 12
The World Energy Outlook finds that the extraordinary growth in oil and natural gas output in the United States will mean a sea-change in global energy flows. In the New Policies Scenario, the WEO’s central scenario, the United States becomes a net exporter of natural gas by 2020 and is almost self-sufficient in energy, in net terms, by 2035. North America emerges as a net oil exporter, accelerating the switch in direction of international oil trade, with almost 90% of Middle Eastern oil exports being drawn to Asia by 2035.