Foreign buyers are in a bidding war with U.S. consumers for the nation’s oil and gas, and that could push up gasoline prices at the pump and home heating bills next year.
But a combination of forces, including more production, could help keep future price increases in check, industry experts predicted Tuesday in Denver.
The two biggest shale gas deposits in the U.S. are producing a record amount of the power-plant fuel, signaling that a fight for market share will intensify as supply outstrips demand.
But Justin Carlson, managing director of research at East Daley Capital, said increased demand and the higher prices that follow will bring more resources into play.
“If demand is there, I believe capital will show up, the crews will show up,” he said.
Read the full article here: Oil and gas prices expected to rise more, but increases in supply will check growth