Oil prices have fallen 60 percent in the last 12 months, con- tinuing the boom and bust cycle that has been a hallmark of the oil and gas industry since the 19th century. Based on the market's current supply and demand balance, many pundits predict prices will not rebound within the next 18 months. While planned pipeline completions in 2016 rose 64 percent compared to last year, long-term plans beyond this year show a sharp decline in investment.
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