Page 5: of Offshore Energy Reporter Magazine (January 2015)

Editorial

Welcome to

Offshore Engineeing Reporter “Dramatic” is an understatement to aptly describe the energy

EIA’s Short Term Energy Outlook forecasts that the price plunge of 2H 2014. While there are precious few out- recent trends in the U.S. petroleum market will side the inner circle of political and corporate leaders who “ continue into 2015. Our forecasts expect domestic can within reason predict energy pricing for the coming fve crude production to average 9.42 million barrels years, the sustained low energy pricing level is sure to have a immediate and sustained impact on the people and compa- per day (10% above 2014), and net imports as a nies that serve this market.

share of domestic consumption to be 21%. Recent

Regardless of the market conditions or direction, Offshore declines in crude prices may affect our outlook.

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