US energy demand to stay weak in 2012 amid strong oil, gas production

Marilyn Radler Senior Editor-Economics Laura Bell Statistics Editor US energy demand and economic activity in 2012 will gain some momentum from last year's doldrums, but growth for each will remain anemic. Total energy demand will increase by 1.2% in the US, according to Oil & Gas Journal's annual Forecast & Review. Early estimates indicate that in 2011, demand climbed by a mere 0.3%. But uncertainties abound this year—from the state of the European Union and its economies weakened by debt defaults to the effects of the West's reactions to Iran's development of nuclear capabilities—and it's those uncertainties that will drive the 2012 oil market. Downside economic risks prevail, i...

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