While we are finding new sources of crude oil, discoveries pale to what's happened with natural gas. Recent boosts to supply also cannot overcome volatility in the Mideast and the fact that much of the world's cheap crude was pumped long ago.
It is an exciting time to be an energy investor in North America. North American natural gas prices are now the lowest in the world. This is a stunning development given that there were grave concerns about natural gas supplies in the early to mid-2000s.