We see the two most important market developments in the new year as the United States being well on the road to energy independence, and a bear market for the Yen. Both will have long range implications for commodity and financial markets. The U.S. Energy Industry The amount and quality of crude oil being drilled in North Dakota and Montana is nothing short of amazing when compared to main stream estimates just 2 years ago. The current boom will have long-term implications for both commodity prices and the national economy. The first thing that comes to mind is we are back to 2-way commodity markets for the first ... (full story)