Here Come Lower Energy Costs [Charts]

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The shale resource revolution and its affect on energy prices has now been discussed ad infinitum.

Yet many consumers are still not seeing the effects on their energy bills. 

That is likely to change next year.

The Energy Information Administration today released its latest Short-Term Energy Outlook report, and things are looking pretty good for next year for the consumer.

The main story will be utilities switching to natural gas and liquids from coal and diesel — most of which will have been produced right here in the good ole U.S. of A.

Crude production is also set to boom. That won’t translate to a huge drop in pump prices.  But they’re not likely to surge either.

Overall, U.S. energy price trends overall look favorable for the economy. 

Natgas production has reached sky-high levels

Source: EIA

…which is causing prices to trend lower.

Source: EIA

As a result, natgas consumption is set to surge…

Source: EIA

See the rest of the story at Business Insider

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