U.S. to Become ‘Energy Dominant’ on Global Price Jump, BofA Says
- Low-cost U.S. oil, gas exporters favored in current market
- U.S. to enjoy ‘good run’ as hydrocarbons supplier this decade
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The U.S. will become “energy dominant” as its low-cost supplies of oil and natural gas give the nation an edge amid surging global fuel prices, according to Bank of America.
As the world moves to cleaner sources of power, prices for crude oil, gas and other hydrocarbons will remain high and volatile in places such as Europe and Asia, a scenario that favors significantly lower-priced U.S. exporters, Francisco Blanch, the bank’s managing director of global commodities research, said in a presentation Wednesday.