Never has the old adage that "the only certainty is uncertainty" been truer for the energy sector. In the past 1 2 months, we've seen a strong emphasis on green energy evaporate as country after country withdrew support for renewables. While the green imperative slipped, natural gas took center stage—particularly in the US. A raft of new shale gas production has put the US on course to be a net exporter, rather than an importer, of natural gas. If that transition takes place quickly, European and Asian gas distributors and users that had locked in long-term, oil-price-related contracts could be vulnerable.
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