There is, Foreign Policy Magazine Senior Reporter for global energy issues Keith Johnson told KSFR's Dave Marash on HERE AND THERE, a consensus on oil prices, they will stay between 30 to 50% lower than last summer's peak for at least the next 5 years or more.  But Johnson says, even with this price outlook, the future of the fast-growing American oil industry, and especially the part based in Southeastern New Mexico, looks pretty secure. Russia, says Johnson is being hit with an energy industry double-whammy.  Falling prices have hurt the Russian budget and sanctions have cut the Russians off from markets, capital, and the technologies they need to develop new sources of gas and oil. 

Direct download: 37033_NEWS_USOilBoom.mp3
Category:KSFR News -- posted at: 1:02pm MDT