A Wall Street Journal analysis shows the United States is on track to become the world’s largest producer of oil and natural gas combined. This domestic production has cut into the expected revenues of traditional oil and gas producers, especially Russia. “This is a remarkable turn of events,” said Adam Sieminski, head of the U.S. Energy Information Administration. “This is a new era of thinking about market conditions, and opportunities created by these conditions, that you wouldn’t in a million years have dreamed about.”
Despite a lot of analysts thinking exactly the opposite, the National Retail Federation (NRF) predicts that U.S. retail sales growth will outstrip last year’s rate of 3.5 percent and come in at a strapping 3.9 percent.
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