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CIT/Forbes: 85% of Energy Executives to Seek Financing in 2012

January 30, 2012, 06:30 AM
Filed Under: Energy

An overwhelming majority (70%) of executives at middle market energy companies see the potential for U.S. energy independence within 15 years, yet they expressed concern that the regulatory environment, along with trouble in the financial world and opposition to fracking, could dash that promise.
These are some of the findings detailed in the research study, “2012 U.S. Energy Sector Outlook” (, released by CIT Group Inc., in association with Forbes Insights.
The study gathered the views of more than 100 executives at middle market energy companies to assess their views on the industry and their outlook for their companies, energy prices, and trends in the coming years.
Among the key findings from the study:

• Overall optimism leads to expansion and refinancing: Due to their optimism about the country’s energy potential, 85% of energy executives intend to seek financing in 2012. Of those, 43% plan to use funds for infrastructure and capital expenditures, 36% to expand production, and 14% for exploration.

•Renewables are part of the energy mix: Although executives generally believe that renewable energy can and should be a part of the U.S. energy mix moving forward, they are less supportive of subsidizing renewable energy companies, perhaps because there were several controversial failures in 2011. However, nearly one-third of executives agreed with the statement: “Renewable subsidies are necessary: Some problems are inevitable.”

Readers may download the entire 2012 U.S. Energy Sector Outlook from the CIT website.

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