2013 looks a lot like 2012

01/07/2013
New Year 2013 looks as though it will be much like the old one. There's rioting in Egypt, confrontation with Iran, continued crisis in the Euro-zone, and Texas needs rain—as does most of the US Midwest where drought conditions are still in the severe, extreme, and exceptional ranges. It will be interesting to see the continuing effect on corn supplies and ethanol production. Analysts at KBC Energy Economics, a division of KBC Advanced Technologies PLC, said, "On several occasions [in 2012] oil prices seemed poised to move lower in response to global economic weakness, but each time they bounced back on heightened geopolitical risk. What changed in November was that such concerns were...
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