U.S. benchmark crude projected at $65 to $75 per barrel by 2016

According to a prediction from forecasting group Kiplinger Oil prices will fall as much as 30 percent by 2016
“In the U.S. and China, truck fleets will use more liquefied natural gas and less diesel,” according to a note from Kiplinger. “In the Middle East, new gas wells will feed power plants, freeing up more oil for export. And plastics makers will increasingly switch from oil to gas as a chemical feedstock.”
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