An strenuous infancy (70%) of executives during center marketplace energy
companies see a intensity for U.S. appetite autonomy within 15
years, nonetheless they voiced regard that a regulatory environment, along
with difficulty in a financial universe and antithesis to fracking, could
lurch that promise.

Mike Lorusso, Group Head of CIT Energy (Photo: Business Wire)

These are some of a commentary minute in a investigate study, “
2012
U.S. Energy Sector Outlook” (
cit.com/energyoutlook),
expelled by
CIT
Group Inc. (NYSE: CIT)
cit.com,
a heading provider of financing to tiny businesses and center market
companies, in organisation with
Forbes
Insights.

The investigate collected a views of some-more than 100 executives during middle
marketplace appetite companies to consider their views on a attention and their
opinion for their companies, appetite prices, and trends in a coming
years.

“Despite regulatory headwinds confronting a industry, appetite executives
trust a United States can grasp appetite autonomy within 15
years,” said
Mike
Lorusso, Group Head of
CIT
Energy. “Executives trust this expostulate toward appetite independence
will be achieved by a multiple of approaches, such as
expanding a use of healthy gas, augmenting domestic prolongation of oil,
and expanding a use of renewable healthy resources. The confidence in
this attention is fueling expansion ― 85% of appetite executives intend to
find financing in 2012.”

Key Findings from a Study:

• ENERGY INDEPENDENCE WITHIN REACH: Thanks to improving
  technologies, new discoveries have separated a need to import
  healthy gas. Fully half of a respondents impersonate these recent
  discoveries as a “crucial addition” to a U.S. appetite mix. As a
  result, executives are some-more open to saying a trail toward U.S.
  independence—70% trust that such autonomy could be achieved
  within 15 years.

• FRACKING IS CONTROVERSIAL AND ESSENTIAL: Fracking, the
  hydraulic fracturing of subterranean stone to promote a upsurge of
  gas and oil deposits, has turn a lightning rod for critique among
  many people who fear environmental consequences. Fully 88% of
  respondents support fracking as possibly a protected record or, during worst,
  determine that it is a building technology, though that side effects will
  diminution over time. Almost two-thirds of respondents trust that the
  attention should teach a race on misconceptions about fracking.

• OVERALL OPTIMISM LEADS TO EXPANSION AND REFINANCING: Due to
  their confidence about a country’s appetite potential, 85% of energy
  executives intend to find financing in 2012. Of those, 43% devise to use
  supports for infrastructure and collateral expenditures, 36% to expand
  production, and 14% for exploration.

• REGULATORY ENVIRONMENT UNDER FIRE: Many appetite industry
  executives strongly impugn a regulatory environment—66% of
  respondents contend that law is a long-term regard confronting the
  industry, while a large minority (40%) favors a abolishment of the
  Department of Energy (DOE). At a core of a anti-DOE sentiment
  appears to be a order over ways to hoop new meridian change and
  atmosphere peculiarity standards released by a Environmental Protection Agency,
  cap-and-trade of CO emissions credits, and inhabitant purify energy
  standards. Fully 55% of executives design to be influenced in a negative
  approach by sovereign and state legislation in a subsequent year or two.

• RENEWABLES ARE PART OF THE ENERGY MIX: Although executives
  generally trust that renewable appetite can and should be a partial of
  a U.S. appetite brew relocating forward, they are reduction understanding of
  subsidizing renewable appetite companies, maybe since there were
  several argumentative failures in 2011. However, scarcely one-third of
  executives concluded with a statement: “Renewable subsidies are
  necessary: Some problems are inevitable.”

EDITOR’S NOTE: To download a giveaway duplicate of a finish study,
visit
cit.com/energyoutlook.
In addition, a giveaway download of CIT’s Executive Spotlight with Mike
Lorusso, in that he provides an overview of a U.S. appetite sector, is
accessible at
cit.com/energyspotlight.

Individuals meddlesome in receiving destiny updates on CIT around e-mail can
register at
http://newsalerts.cit.com.

About a Study

Survey respondents enclosed 107 appetite attention executives. Of these,
101 came from companies with revenues between $10 million and $1
billion. Six executives came from companies with revenues between $1
billion and $5 billion. Most companies (71) were secretly held, either
by families or private equity investors.

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