We begin 2020 with the stock market again testing record highs. We just finished a year in which oil prices rose by more than 30 percent. However, natural gas prices closed the year nearly 40 percent lower, emphasizing the extent to which these two commodities have become unlinked. It’s also an election year. Those tend to inject additional unpredictability into the markets, as short-term decisions are often made to influence voters (e.g., releasing oil from the Strategic Petroleum Reserve to drive gasoline prices lower). Against this backdrop, it’s harder for me to get a clear handle on the trends in the energy markets this year. Nevertheless, there are some disconnects in the market that I believe are likely to correct this year. I believe there are some high probability predictions we can make based on those disconnects. Below are my predictions for some of the significant energy trends I […]