2013 Forecast: Implications of the 2012 election abound ///

Elections have consequences. For the upstream oil and gas (O&G) industry, the consequences of the November 2012 U.S. election are not good. There is no way to sugarcoat the fact that the major consequence for the industry is that it backed the wrong horse. President Obama won a second term, the Democrats unexpectedly increased their control of the Senate, and, while the Republicans maintained control of the House of Representatives, the Democrats gained eight seats. Nationwide, the results unpleasantly surprised Republicans (and surprised just about everyone else, as well)—almost uniformly grim, and for Republicans are potentially ominous for the future.

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