J. MARSHALL ADKINS, Raymond James
Ironically, terrific strides in productivity are making life miserable and the outlook bleak for the U.S. natural gas industry. Dazzling technological advances coupled with exponential production increases in shale wells have flooded the U.S. with an over-supply of natural gas at the same time that economic woes are driving consumer and industrial demand into the ground. Too much of a good thing does not make a pretty picture. In fact, J. Marshall Adkins, who leads the energy research team at Raymond James, thinks it's pretty ugly. On a more positive note, he tells The Energy Report readers that oil fundamentals remain strong and his firm is as bullish as it can be on oil's long-term future.

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