Higher energy prices seen as solution to easing US energy supply crunch

Higher energy prices are the only long-term solution to the current crunch in energy supply in the US.That general theme, sounded by Raymond James & Associates Inc. analyst Marshall Adkins, was echoed by other speakers as well at an oil field breakfast forum in Houston last week.The meeting was sponsored by Resource Marketing International, a consulting firm, and Randall Morton International Inc., an advertising and public relations agency.Bottom line: high prices"Like the 1970s, this is an energy supply-constrained market," Adkins told forum attendees. "The bottom line is [that]$5/Mcf gas, $30/bbl oil, and $50 Mw-hr power are here to stay, longer term."He estimates a benchmark US light, ...

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