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The Energy Report: Since we last talked in November, oil went from $90–110 per barrel (bbl). Has it established a floor that will stick? Or, as Porter Stansberry predicted during the summit, is it getting ready to crash? He said that the same sort of technology that brought on the glut of natural gas will lead to an abundance of oil that will depress prices.

Marin Katusa: Porter was basing his comments on the success of shale gas in North America, and with that you have natural gas liquids and some oil. In North America, gas became a victim of its own success, worsened by a warmer-than-expected winter. But understand that gas, in general, has very localized markets. . .