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EIA Forecast of Energy Prices

   The Energy Information Administration has forecasted that oil and natural gas prices will rise slightly through 2011. It predicts oil to average $84/bbl in 2001, and that the Henry Hub spot price for natural gas will average $4.98/MMBtu in 2011, an incurease of 6% from 2010.  EIA forecasts that US natural gas consumption will increase 3.8% from 2009 levels in 2010, then remain flat in 2011. It predicts total natural gas production to increase by 1.1 Bcf/d in 2010, an increase of 1.9%.

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