Industrialized Cyclist Notepad


shuttered
October 14, 2013, 08:52
Filed under: Uncategorized | Tags: , , , , ,

Leaving a void of energy propaganda.

Impact of the federal government shutdown on EIA ›

As a result of the lapse in appropriations for the U.S. Energy Information Administration, the EIA.gov website and our social media channels will not be updated after 1:00 p.m. Eastern Time on Friday, October 11, 2013. Transactions submitted via the website might not be processed until appropriations are enacted; databases might not be available; and we will not be able to respond to inquiries.

Will the shutdown affect EIA\’s reports and data releases? Yes. The release of all reports and data will cease during the shutdown.

via U.S. Energy Information Administration (EIA).



WTI catches back up to Brent
July 21, 2013, 00:23
Filed under: Uncategorized | Tags: , , , , , , ,

West Texas Intermediate crude became more expensive than Brent for the first time in almost three years as pipeline and rail shipments helped clear a bottleneck that reduced the price of the U.S. benchmark.

WTI hadn’t been higher than Brent since Aug. 17, 2010. The move was in intraday trading. WTI averaged $17.47 less than Brent in 2012 and traded as much as $23.44 lower than its European counterpart Feb. 8.

Improved pipeline networks and the use of rail links are helping to ease the North American oil glut created by rising production of crude from shale formations. WTI has jumped 18 percent this year, while Brent has decreased 2.5 percent as North Sea supplies stabilized after maintenance.

via WTI Crude Exceeds Brent for First Time in Almost Three Years – Bloomberg.



VMT versus Brent
November 13, 2012, 23:48
Filed under: Uncategorized | Tags: , , , , ,


click to enlarge

1987-2012



The Role of Speculation in Oil Markets

What have we learned so far?

A paper by Fatthouh, Kilian and Mahadeva (pdf)

Abstract: A popular view is that the surge in the price of oil during 2003-08 cannot be explained by economic fundamentals, but was caused by the increased financialization of oil futures markets, which in turn allowed speculation to become a major determinant of the spot price of oil. This interpretation has been driving policy efforts to regulate oil futures markets. This survey reviews the evidence supporting this view. We identify six strands in the literature corresponding to different empirical methodologies and discuss to what extent each approach sheds light on the role of speculation. We find that the existing evidence is not supportive of an important role of speculation in driving the spot price of oil after 2003. Instead, there is strong evidence that the co-movement between spot and futures prices reflects common economic fundamentals rather than the financialization of oil futures markets.



EIA’s latest oil price prediction

Via http://www.eia.gov/forecasts/aeo/er/early_prices.cfm

Consider in light of their historical track record, which has … not been good.



Krugman doesn’t mention depletion either

…Although he does make other good points, like Yergin, in service of his argument of the day.

…Oil prices are up because of rising demand from China and other emerging economies, and more recently because of war scares in the Middle East; these forces easily outweigh any downward pressure on prices from rising U.S. production.

via Natural Born Drillers – NYTimes.com.




Follow

Get every new post delivered to your Inbox.

Join 82 other followers