Energy OverView 2012 Preview

At the beginning of 2011, the US economy was beginning to show some signs of revival. But the staggering effects of the economic duress consequent to the previous two year’s turbulence in the housing market, only allowed for output growth in 2010 of 2.8%. In Europe, where the dimensions of the looming credit crisis were just beginning to be comprehended, only a 1.8% advance in economic growth over the previous year was recorded. For both regions, hardly sufficient to bring down continuing high unemployment rates.