In 2006 the cost of energy exceeded our budgets dramatically as the average cost of a barrel of oil rose to $60 - $69 per barrel. In the United States producers continue to recover from the losses suffered from the hurricanes in the southern regions. Growth in 2007 non-OPEC (Orgainization of Petroleum Exporting Countries) likely will rise to more than 1.4 million barrels per day. The United States uses 70% of the natural resourses worldwide and is in heavy competition with China for Natural resources. After saying that, Relative to world crude production capacity most of which is located in Saudi Arabia, is only expected to rise slightly in 2007. Only limited surplus capacity could be tapped of the existing supplies because of potential supply problems in Nigeria, Iran, Iraq, and Venezulea. These factors as well of the fact another Hurricane season is just months away could continue to tighten the supply pricing patterns.
Good luck on your electrical budgeting for 2007. Any ideas on accurate forecasting can be sent to the HBEA for distribution to all our members. HBEA745@AOL.COM



























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