Filed under: Uncategorized | Tags: "shutdown", EIA, energy, government shutdown, oil, oil prices
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).
Filed under: Uncategorized | Tags: Brent, crude oil, Cushing, energy, Keystone pipeline, North Sea, oil prices, WTI
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.
Filed under: Uncategorized | Tags: Brent, driving, oil prices, peak oil, vehicle miles traveled, Vmt
click to enlarge
1987-2012
Filed under: Uncategorized | Tags: Brent, Fatthouh, futures prices, James Hamilton, Kilian, Mahadeva, NYMEX, oil prices, speculation, spot prices, WTI
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.
Filed under: Uncategorized | Tags: Brent, crude oil, crude oil prices, EIA, energy, Energy Information Administration, NYMEX, oil price, oil price predictions, oil prices, peak oil, WTI
Via http://www.eia.gov/forecasts/aeo/er/early_prices.cfm
Consider in light of their historical track record, which has … not been good.
Filed under: Uncategorized | Tags: China, energy, gas prices, Natural Born Drillers, oil prices, Paul Krugman, peak oil
…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.
