...Energy states' budgets have been severely impacted by the two-year deterioration in natural resource prices. Despite an anticipated loosening of federal environmental oversight to promote increased development and the currently positive crude oil price trend, the commodities remain subject to headwinds from global market forces, which include a glut of crude oil, an international commitment to reduce coal use as a means to combat climate change, and increasing use of renewables for energy needs. Fitch expects these headwinds to restrain crude oil and natural gas prices through the medium term while coal demand and prices are expected to remain weak....
