I am pleased to forward 5’s 2013 second quarter overview of the energy market. Like the prior letters, this note covers some notable trends and developments over the past quarter.

Let me start with a simple observation: it is a great time to be an energy consumer.Almost all other segments of the energy market are under pressure. Producers are pressured by an abundant supply of natural gas and oil driven by hydraulic fracking. Generation owners face difficult investment decisions. They manage power plants that struggle to turn a profit at today’s wholesale prices and face new challenges from demand response, renewables and environmental legislation. Retail suppliers continue to see increased competition and compressed margins.

I am pleased to forward 5’s third quarterly overview of the energy market. As with prior letters, this note covers some notable trends and developments in the energy market over the past quarter.

Last quarter, we commented on how fracking and the resulting explosion in natural gas production, particularly in the Northeast, is turning the energy industry upside down. There is a second important trend occurring in the US energy market, again driven by improvements in fracking technology. In 2013, the US is on track to become a net oil exporter for the first time since 1995. The reason for this dramatic reversal in our nation’s dependence on foreign oil is the increase in domestic oil production from shale and other tight rock formations in North Dakota and Texas. Since September 2011, US oil production has increased by more than 900,000 barrels per day, driven (as with natural gas) by the use of horizontal drilling combined with hydraulic fracking. The new surplus of US oil production supports continued efforts to export both natural gas and oil to higher priced markets overseas. In the short term, only one thing is certain; as the market continues to adjust to a major restructuring of supply and demand, you should expect volatility in energy prices.

I am pleased to forward 5’s second quarterly overview of the energy market. As with our first letter, we cover notable trends and developments in the market over the past few months. We hope that these quarterly reports serve as a natural complement to our weekly market reports (which focus on energy prices), as well as the specific client-based recommendations issued by our advisors.

I am pleased to forward 5’s first quarterly overview of the energy market. This letter covers notable trends and developments in the market over the past few months. We hope that these quarterly reports serve as a natural complement to our weekly market reports (which focus on energy prices), as well as the specific client-based recommendations issued by our advisors.