Global Crude Supply Leads to Sharp Price Declines

Benchmark crude oil price declines may threaten domestic producers’ continued production growth. On January 5, 2015, the Energy Information Administration (EIA) released a report — drawing from the S&P Goldman Sachs Commodity Index (GSCI) — showing that energy commodity prices recorded the largest declines in 2014 compared to non-energy commodities.  Notably, the GSCI’s energy component…