The Latest News:
- The U.S. shale boom could bolster MLPs.
- As new drilling and production techniques advance, MLPs will benefit by providing the necessary infrastructure to move around the extracted oil and natural gas.
- U.S. crude production hit a 28-year High last week on increased shale oil production, reports Mark Shenk for Bloomberg.
- “This is an incredible phenomena that looks set to continue,” John Kilduff, a partner at Again Capital LLC, said in the Bloomberg article. “There’s a long way to go before we explore and exploit all of the shale deposits out there.”
- The U.S. met 87% of its energy needs in 2013 and touched 90% in December, the most since March 1985, according to the Energy Information Administration.
- The EIA calculates that crude output will average 8.46 million barrels a day this year and 9.24 million per day in 2015, the highest average since 1972.
Direxion Zacks MLP High Income Shares
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Max Chen contributed to this article.