Is the U.S. Energy Renaissance Over? Not So Fast
With new extraction technologies involving shale and deepwater sources, the U.S. was poised to become the world’s No. 1 producer of oil and natural gas. Then crude oil prices suddenly collapsed. Since shale production is the engine driving the U.S. energy renaissance, will lower oil prices spell the end of the energy independence story in the U.S.? Not according to Jay Saunders, a managing director at Jennison Associates and portfolio manager of the Prudential Jennison Natural Resources Fund, Inc.