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March 15, 2013

Fossil Fuels
Could the North American Shale Boom Happen Elsewhere?

The dramatic takeoff in oil and gas production in the United States and Canada over the last half decade has left many people asking whether a similar boom will happen in other countries. It’s a good…

February 22, 2013

Fossil Fuels
Asking the Right Questions About Changes in Derivative Markets

As part of a book I’m working on, I’ve spent some time wading through the econometric literature on speculation in commodity markets, oil in particular. This body of research tries to shed light on h…

Asking the Right Questions About Changes in Derivative Markets

February 21, 2013

Fossil Fuels
Oil Market Volatility, Part Two

In a post earlier this month, I showed that by some measures crude oil price volatility is nearing a low ebb historically, though looking at historical volatility in isolation can mask the magnitude …

Oil Market Volatility, Part Two

February 13, 2013

New Website on the Speculation Debate

One of the most misunderstood topics in energy markets is the role speculation plays in them, and specifically how buying and selling by financial market participants affects market behavior. Public …

February 7, 2013

Fossil Fuels
President Obama: The World’s Best Oil Market Manager?

Okay, so the title of this post is tongue-in-cheek: the U.S. president has far less power to influence gasoline prices than campaign-season banter would lead you to believe. But I figure if a sitting…

President Obama: The World’s Best Oil Market Manager?

February 5, 2013

Fossil Fuels
Why Roll Yield Matters to Oil Benchmark Preferences

In my last post I discussed how trading volumes show a migration into ICE Brent from NYMEX West Texas Intermediate (WTI), two of the world’s most watched crude oil benchmarks. The trend is part of Br…

Why Roll Yield Matters to Oil Benchmark Preferences

January 24, 2013

Trading Volumes Underscore Brent’s Ascendance as World Oil Benchmark

West Texas Intermediate (WTI) and Brent have been locked in a multi-year wrestling match for the exalted status of the definitive world benchmark price of oil. WTI’s glaring deficiencies as a baromet…

Trading Volumes Underscore Brent’s Ascendance as World Oil Benchmark

January 17, 2013

Fossil Fuels
Chavez’s Troubled Legacy for Venezuela’s Oil Industry

The failure of ailing Venezuelan president Hugo Chavez to return from Cuba, where he is recovering from another round of surgery, to Caracas for his inauguration underscores the uncertainty of the So…

Chavez’s Troubled Legacy for Venezuela’s Oil Industry

January 10, 2013

China
Five Critical Questions About the U.S. Strategic Petroleum Reserve

Constant chatter about an impending oil release from the U.S. Strategic Petroleum Reserve (SPR) was a prominent feature of the oil market last year. Much of the speculation was driven by the ongoing …

January 8, 2013

Fossil Fuels
Drilling into the American Energy Boom, in Four Charts

One interesting feature of the U.S. hydrocarbon boom is the widening gap between the industry’s interest in drilling for oil and other liquids versus dry natural gas. It’s all about economics: the di…

Drilling into the American Energy Boom, in Four Charts