Despite the current headlines about soaring gas prices, there’s at least one major area of overlooked good news in the energy arena:
The United States is going through a historic, unprecedented, eye-popping energy boom.
No exaggeration. Did you know that the United States is projected to become a net energy exporter by the end of this year? It’s true – despite the fact that the U.S. also consumes vastly more energy than any other country on the planet. In fact, the U.S. already exported more gasoline, diesel and other fuels than it imported in 2011 – a feat last achieved in 1949.
Shipments abroad of petroleum products exceeded imports by 439,000 barrels a day, the department said today in the Petroleum Supply Monthly report. In 2010, daily net imports averaged 269,000 barrels. U.S. refiners exported record amounts of gasoline, heating oil and diesel to meet higher global fuel demand while U.S. fuel consumption sank.
So times are exciting in the oil and gas industry, and the industry is going to need some intrepid companies to step up and meet this massive demand for production. Unfortunately, the oil and gas industry is nothing if not fickle, and even a huge boom does not guarantee that the next few years will be smooth or consistent.
Oil and gas prices and demand can be affected by simply too many variables stemming from too many places across the globe. War in Iran or unrest in Saudi Arabia could send demand soaring. An economic crash in Europe could make demand plummet.
One month could be up. The next could be down.
Here at Vertex Financial, both our oil and gas factoring services and our startup factoring services can give your company a critical cash lifeline during turbulent times and give you access to the reserves you need to invest in equipment, hire workers and scale up your operations to ride this wave before it crests. Contact our invoice factoring specialists for more information.