Fed's Kaplan: energy situation may get worse before getting better

Robert Kaplan, the new chief of the Dallas Federal Reserve Bank, said on Thursday he expects it will be early or mid-2017 before the supply of and demand for oil come into balance, with oil prices likely to be higher in a couple of years. "The energy situation may get a little worse before it gets better," Kaplan told the Real Estate Council in Dallas, referring to the negative impact that low oil prices have had on the Texas economy. As demand for oil rises this year, he forecast, oversupply wi