AOBA Utility Committee

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "AOBA Utility Committee"

Transcription

1 AOBA Utility Committee Energy Markets in Tailspin Major Economic Recession Continues to Pull Energy Prices Downward Where Will It End? Presented By Bruce R. Oliver President, Revilo Hill Associates, Inc. March 11, 2009

2 Will the Recession Bring an End to Extreme Energy Price Volatility? Sharp Rise in Energy Prices Contributed to Nation s Economic Slowdown But Falling Energy Prices Appear to Have Done Little to Revive Economic Activity March 11, 2009 AOBA Utility Committee Page 2

3 Driver s of Current Energy Prices Continuing Financing and Credit Issues Weakened U.S. and World Economies Growing Unemployment Record U.S. Natural Gas Production and Rising Natural Gas Inventories March 11, 2009 AOBA Utility Committee Page 3

4 The Decline in Stock Market Prices Since Its Peak in October 2007 Now Exceeds 50% March 11, 2009 AOBA Utility Committee Page 4

5 Percent of Workers Unemployed 9.0 U.S. Civilian Unemployment Rate January 2007 Through February Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Month March 11, 2009 AOBA Utility Committee Page 5

6 Bcf of Natural Gas Produced U.S. Natural Gas Production Reaches Its Highest Level in More Than 30 Years 22,000 U.S. Marketed Natural Gas Production ,000 20,000 19,000 18,000 17,000 16,000 15,000 Jan-79 Jan-81 Jan-83 Jan-85 Jan-87 Jan-89 Jan-91 Jan-93 Jan-95 Jan-97 Jan-99 Jan-01 Jan-03 Jan-05 Jan-07 Jan-09 Month and Year March 11, 2009 AOBA Utility Committee Page 6

7 Market Response to Falling Energy Prices March 11, 2009

8 Thousand Decatherms U.S. LNG Imports December 1999 Through December 2008 (12-Month Rolling Averages) Despite Expanded U.S. LNG Terminal Capacity, LNG Imports Fell by More Than 54% in Dec-99 Mar-00 Jun-00 Sep-00 Dec-00 Mar-01 Jun-01 Sep-01 Dec-01 Mar-02 Jun-02 Sep-02 Dec-02 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Jun-08 Sep-08 Dec-08 Month U.S. LNG Imports (12-Month Rolling Average) March 11, 2009 AOBA Utility Committee Page 8

9 Thousands of MMBtu U.S. LNG Imports By Country All Others Trinidad Qatar Nigeria Egypt Algeria Calendar Year March 11, 2009 AOBA Utility Committee Page 9

10 Natural Gas Storage Inventories Are Now Well Above Five-Year Average Levels 5-Year High 5-Year Low Current Red Line EIA: Working Gas in Underground Storage, Lower 48 States Region Stocks in billion cubic feet (Bcf) 02/27/09 02/20/09 Change Historical Comparisons Year Ago (02/27/08) 5-Year ( ) Avg Stocks (Bcf) % Change Stocks (Bcf) % Change East % % West % % Producing % % Total 1,793 1, , % 1, % March 11, 2009 AOBA Utility Committee Page 10

11 Dollars per MMBtu The Sharp Decline in Natural Gas Prices Continues... $13.00 Fluctuations in Natural Gas Futures Prices Average Prices for Calendar Year Supply Periods $12.00 $11.00 $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $ /12/06 01/12/07 03/26/07 04/16/07 05/29/07 06/12/07 07/27/07 08/29/07 09/26/07 10/26/07 11/28/07 12/27/07 01/29/08 02/12/08 02/25/08 02/26/08 03/17/08 4/15/2008 4/28/2008 5/22/2008 5/28/2008 6/12/2008 6/26/2008 7/10/2008 7/29/2008 8/27/2008 9/19/ /17/ /29/ /13/ /5/ /31/2008 1/21/2009 2/25/2009 Date of Observation CY 2009 CY 2010 CY 2011 CY 2012 CY 2013 March 11, 2009 AOBA Utility Committee Page 11

12 Dollars per Decatherm $14.00 Changes in Forward Looking Natural Gas Prices Based on Prices for NYMEX Natural Gas Commodity Futures $13.00 $12.00 $11.00 $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Supply Month As of 12/27/07 As of 02/26/08 As of 04/28/08 As of 06/26/08 As of 08/27/08 As of 10/29/08 As of 12/31/08 As of 02/25/09 March 11, 2009 AOBA Utility Committee Page 12

13 Number of Active Drilling Rigs 2,200 2,100 2,000 1,900 1,800 1,700 1,600 1,500 1,400 1,300 1,200 1,100 1, Total U.S. Oil and Natural Gas Drilling Activity March 1999 to March 2009 Oil Rigs Natural Gas Rigs Mar-99 Jul-99 Nov-99 Mar-00 Jul-00 Nov-00 Mar-01 Nov-02 Mar-03 Jul-03 Nov-03 Mar-04 Jul-04 Nov-04 Mar-05 Jul-05 Nov-05 Mar-06 Jul-01 Nov-01 Mar-02 Jul-02 Observation Date Oil Rigs Natural Gas Rigs Total Jul-06 Nov-06 Mar-07 Jul-07 Nov-07 Mar-08 Jul-08 Nov-08 Mar-09 March 11, 2009 AOBA Utility Committee Page 13

14 Number of Active Rigs 2,100 US. Active Drilling Rigs By Type March 1999 to March ,000 1,900 1,800 1,700 1,600 1,500 1,400 1,300 1,200 1,100 Total Wells Traditional Vertical Wells 1, Horizontal Wells Directional Wells Mar-99 Jul-99 Nov-99 Mar-00 Jul-00 Nov-00 Mar-01 Jul-01 Nov-01 Mar-02 Jul-02 Nov-02 Mar-03 Jul-03 Nov-03 Mar-04 Jul-04 Nov-04 Mar-05 Jul-05 Nov-05 Mar-06 Jul-06 Nov-06 Mar-07 Jul-07 Nov-07 Mar-08 Jul-08 Nov-08 Mar-09 Date of Observation Directional Horizonal Vertical Total March 11, 2009 AOBA Utility Committee Page 14

15 Near-Term Natural Gas Prices Continue Their Decline While Crude Oil Prices Show Some Upward Movement March 11, 2009 AOBA Utility Committee Page 15

16 Rolling 12 Month Total Gas Use (Bcf). 8,000 US Natural Gas Use by Sector (EIA Actuals through December 2008; Linear Trend Lines through January 2010) Electric Generation 7,000 Industrial 6,000 5,000 Commercial 4,000 3,000 Residential 2,000 Other 1,000 0 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Month and Year Residential Commercial Industrial Other Electric Generation March 11, 2009 AOBA Utility Committee Page 16

17 Dollars per Therm Retail Natural Gas Prices Turn Sharply Downward For Now $1.80 $1.70 $1.60 $1.50 $1.40 $1.30 $1.20 $1.10 $1.00 $0.90 $0.80 $0.70 $0.60 $0.50 $0.40 $0.30 $0.20 $0.10 $0.00 Washington Gas Light Company History of Purchased Gas Charges by Jurisdiction (Balancing Charges Included) 1/1/02 3/1/02 5/1/02 7/1/02 9/1/02 11/1/02 1/1/03 3/1/03 5/1/03 7/1/03 9/1/03 11/1/03 1/1/04 3/1/04 5/1/04 7/1/04 9/1/04 11/1/04 1/1/05 3/1/05 5/1/05 7/1/05 9/1/05 11/1/05 1/1/06 3/1/06 5/1/06 7/1/06 9/1/06 11/1/06 Actual Projected Month 1/1/07 3/1/07 5/1/07 7/1/07 9/1/07 11/1/07 1/1/08 3/1/08 5/1/08 7/1/08 9/1/08 11/1/08 1/1/09 3/1/09 5/1/09 7/1/09 9/1/09 11/1/09 WGL DC WGL MD WGL VA Comm WGL VA MMA Linear (WGL VA Comm) March 11, 2009 AOBA Utility Committee Page 17

18 March 11, 2009 Electric Markets

19 Dollars per MWH Impacts of Energy Price Fluctuations on Wholesale Electric Commodity Prices PJM Monthly Electric LMP Futures - Peak For July 2008 Through June 2010 $140 $130 $120 $110 $100 $90 $80 $70 $60 $50 $40 Apr-09 Jun-09 Aug-09 Oct-09 Dec-09 Feb-10 Apr-10 Jun-10 Aug-10 Oct-10 Dec-10 Feb-11 Apr-11 Feb 25, 2008 May 19, 2008 Jul 10, 2008 Oct 2, 2008 'Dec 8, Mar-09 March 11, 2009 AOBA Utility Committee Page 19

20 Illustrative Forward Looking Retail Electricity Supply Prices by Cost Component (for DC Electric Market) 06/09 5/10 06/09 5/11 As of Mar 2008 As of Mar 2008 Cents per kwh Estimated Electric Energy Cost Locational Capacity Costs Congestion Charges Transmission Costs Ancillaries Marketer Costs Distribution Losses Estimated Total Retail Supply Cost Includes administrative, marketing, collateral and billing costs as well as marketer risk and profit. March 11, 2009 AOBA Utility Committee Page 20

21 What to Look For In U.S. Energy Markets Over the Next Few Years? Either a Carbon Tax or a Cap and Trade Program on carbon emissions will weigh heavily on the coal industry and on coal-fired electric generation. Renewable energy development will not be sufficiently rapid to displace substantial coal-fired electric generation. Increased Natural Gas supplies will be required to displace coal-fired electric generation. Unexpected large demands for natural gas supplies will push up natural gas prices even if there is little or no economic recovery. March 11, 2009 AOBA Utility Committee Page 21

22 What to Look For In U.S. Energy Markets Over the Next Few Years? (continued) Re-regulated electric service will be used to obtain greater subsidies of residential electric customers by commercial energy users. The Nuclear industry will continue to languish unless more economic and smaller-sized generating units can be developed without sacrificing safety. Although approximately 40 permits for the construction of new nuclear generators are presently before the Nuclear Regulatory Commission, none have been approved to date; and few will be constructed over the next decade. Substantially increased imports of LNG may ultimately be a key element of U.S. efforts to provide for economic growth while meeting carbon reduction goals, but that will once again be at the expense of U.S. energy security. March 11, 2009 AOBA Utility Committee Page 22

23 Longer-Term Considerations March 11, 2009

24 EIA Long-Term Energy Use Projections 10-Yr Year Quads Growth % % % % % % Energy Use in Quadrillion Btus Annually March 11, 2009 AOBA Utility Committee Page 24

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

HOSPIRA (HSP US) HISTORICAL COMMON STOCK PRICE INFORMATION

HOSPIRA (HSP US) HISTORICAL COMMON STOCK PRICE INFORMATION 30-Apr-2004 28.35 29.00 28.20 28.46 28.55 03-May-2004 28.50 28.70 26.80 27.04 27.21 04-May-2004 26.90 26.99 26.00 26.00 26.38 05-May-2004 26.05 26.69 26.00 26.35 26.34 06-May-2004 26.31 26.35 26.05 26.26

More information

Median and Average Sales Prices of New Homes Sold in United States

Median and Average Sales Prices of New Homes Sold in United States Jan 1963 $17,200 (NA) Feb 1963 $17,700 (NA) Mar 1963 $18,200 (NA) Apr 1963 $18,200 (NA) May 1963 $17,500 (NA) Jun 1963 $18,000 (NA) Jul 1963 $18,400 (NA) Aug 1963 $17,800 (NA) Sep 1963 $17,900 (NA) Oct

More information

Tancred Lidderdale Energy Information Administration 2008 Summer Energy Outlook Conference April 22, 2008 Denver, CO.

Tancred Lidderdale Energy Information Administration 2008 Summer Energy Outlook Conference April 22, 2008 Denver, CO. EIA Short-term term Energy Outlook Tancred Lidderdale Energy Information Administration 2008 Summer Energy Outlook Conference April 22, 2008 Denver, CO. Key Factors Driving the Short-Term 1) Rising world

More information

THE UNIVERSITY OF BOLTON

THE UNIVERSITY OF BOLTON JANUARY Jan 1 6.44 8.24 12.23 2.17 4.06 5.46 Jan 2 6.44 8.24 12.24 2.20 4.07 5.47 Jan 3 6.44 8.24 12.24 2.21 4.08 5.48 Jan 4 6.44 8.24 12.25 2.22 4.09 5.49 Jan 5 6.43 8.23 12.25 2.24 4.10 5.50 Jan 6 6.43

More information

Natural Gas: Winter 2012-13 Abundance! and Some Confusion

Natural Gas: Winter 2012-13 Abundance! and Some Confusion Natural Gas: Winter 2012-13 Abundance! and Some Confusion NASEO Winter Fuels Outlook Washington, D.C. October 10, 2012 Bruce B. Henning Vice President, Energy Regulatory and Market Analysis BHenning@icfi.com

More information

AT&T Global Network Client for Windows Product Support Matrix January 29, 2015

AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network

More information

NAV HISTORY OF DBH FIRST MUTUAL FUND (DBH1STMF)

NAV HISTORY OF DBH FIRST MUTUAL FUND (DBH1STMF) NAV HISTORY OF DBH FIRST MUTUAL FUND () Date NAV 11-Aug-16 10.68 8.66 0.38% -0.07% 0.45% 3.81% 04-Aug-16 10.64 8.66-0.19% 0.87% -1.05% 3.76% 28-Jul-16 10.66 8.59 0.00% -0.34% 0.34% 3.89% 21-Jul-16 10.66

More information

CONNECTICUT ENERGY PRICE REPORT

CONNECTICUT ENERGY PRICE REPORT CONNECTICUT ENERGY PRICE REPORT 5/26/ DENOTES FALLING PRICES COMPARED TO YEAR EARLIER DENOTES FLAT PRICES COMPARED TO YEAR EARLIER DENOTES RISING PRICES COMPARED TO YEAR EARLIER CONNECTICUT RETAIL CRUDE

More information

2015: A year of plenty

2015: A year of plenty BP Statistical Review of World Energy June 2016 2015: A year of plenty Spencer Dale, group chief economist bp.com/statisticalreview #BPstats BP p.i.c.2016 Key global trends Energy demand in transition

More information

CONNECTICUT ENERGY PRICE REPORT

CONNECTICUT ENERGY PRICE REPORT CONNECTICUT ENERGY PRICE REPORT 1/15/2015 DENOTES FALLING PRICES COMPARED TO YEAR EARLIER DENOTES FLAT PRICES COMPARED TO YEAR EARLIER DENOTES RISING PRICES COMPARED TO YEAR EARLIER CONNECTICUT RETAIL

More information

PETROLEUM WATCH September 16, 2011 Fossil Fuels Office Fuels and Transportation Division California Energy Commission

PETROLEUM WATCH September 16, 2011 Fossil Fuels Office Fuels and Transportation Division California Energy Commission PETROLEUM WATCH September 16, 2011 Fossil Fuels Office Fuels and Transportation Division California Energy Commission Summary As of September 14, retail regular-grade gasoline prices in California increased

More information

Natural Gas / Electricity and the Industrial Sector. The Dismantling of US Manufacturing

Natural Gas / Electricity and the Industrial Sector. The Dismantling of US Manufacturing Natural Gas / Electricity and the Industrial Sector The Dismantling of US Manufacturing Paul Cicio President Industrial Energy Consumers of America August, 2007 Who Are Energy Price Sensitive Industries?

More information

Oil & Gas Market Outlook. 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016

Oil & Gas Market Outlook. 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016 Oil & Gas Market Outlook 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016 Challenging Market Environment Concerns that global economic growth will slow and reduce global oil and natural

More information

Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8

Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138 Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 2 of 138 Domain Name: CELLULARVERISON.COM Updated Date: 12-dec-2007

More information

S&P Year Rolling Period Total Returns

S&P Year Rolling Period Total Returns S&P 500 10 Year Rolling Period Total Returns Summary: 1926 June 2013 700% 600% 500% 400% 300% 200% 100% 0% 100% Scatter chart of all 931 ten year periods. There were 931 ten year rolling periods from January

More information

Sailing Option 1. Day Trip Timetable: Poole to Guernsey. Colour Key Time XX:XX = Fast Ferry. Time XX:XX = Commodore Clipper.

Sailing Option 1. Day Trip Timetable: Poole to Guernsey. Colour Key Time XX:XX = Fast Ferry. Time XX:XX = Commodore Clipper. Day Trip Timetable: Poole to Guernsey Sailing Option 1 Departure Return Sailing Date Depart Arrive Depart Arrive December 2016 Mon 19-Dec 08:00 11:00 15:10 18:10 20-Dec Wed 21-Dec 09:15 12:15 16:25 19:25

More information

Analysis One Code Desc. Transaction Amount. Fiscal Period

Analysis One Code Desc. Transaction Amount. Fiscal Period Analysis One Code Desc Transaction Amount Fiscal Period 57.63 Oct-12 12.13 Oct-12-38.90 Oct-12-773.00 Oct-12-800.00 Oct-12-187.00 Oct-12-82.00 Oct-12-82.00 Oct-12-110.00 Oct-12-1115.25 Oct-12-71.00 Oct-12-41.00

More information

ANNEXURE 1 STATUS OF 518 DEMAT REQUESTS PENDING WITH NSDL

ANNEXURE 1 STATUS OF 518 DEMAT REQUESTS PENDING WITH NSDL ANNEXURE 1 STATUS OF 518 DEMAT REQUESTS PENDING WITH NSDL Sr. No. Demat Request No.(DRN) DP ID Client ID Date of Demat Request Received Quantity Requested Date of Demat Request Processed No. of days of

More information

Enhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017

Enhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017 From -JAN- To -JUN- -JAN- VIRP Page Period Period Period -JAN- 8 -JAN- 8 9 -JAN- 8 8 -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -FEB- : days

More information

An Assessment of Prices of Natural Gas Futures Contracts As A Predictor of Realized Spot Prices at the Henry Hub

An Assessment of Prices of Natural Gas Futures Contracts As A Predictor of Realized Spot Prices at the Henry Hub An Assessment of Prices of Natural Gas Futures Contracts As A Predictor of Realized Spot Prices at the Henry Hub This article compares realized Henry Hub spot market prices for natural gas during the three

More information

Suffolk County Market Updates

Suffolk County Market Updates Suffolk County Market Updates November 2016 Closed Median Sale Price........ 2 Pending Median Sale Price........ 3 Number of Closed ly Transactions........ 4 Number of Pending ly Transaction........ 5

More information

The Central Role of Energy Efficiency in the Energy Outlook and EIA s Energy Data Program

The Central Role of Energy Efficiency in the Energy Outlook and EIA s Energy Data Program The Central Role of Energy Efficiency in the Energy Outlook and EIA s Energy Data Program For MIT Energy Initiative Symposium May 12, 2014 Cambridge, MA By Howard Gruenspecht, Deputy Administrator U.S.

More information

Foreign Currency Market in IRAN Overview & Forecast

Foreign Currency Market in IRAN Overview & Forecast Research, Planning and Budgeting Division Economic Research Unit Feb. 2016 Foreign Currency Market in IRAN Overview & Forecast Q4-2015 No4 Research, Planning and Budgeting Division Economic Research Unit

More information

CENTERPOINT ENERGY TEXARKANA SERVICE AREA GAS SUPPLY RATE (GSR) JULY 2015. Small Commercial Service (SCS-1) GSR

CENTERPOINT ENERGY TEXARKANA SERVICE AREA GAS SUPPLY RATE (GSR) JULY 2015. Small Commercial Service (SCS-1) GSR JULY 2015 Area (RS-1) GSR GSR (LCS-1) Texarkana Incorporated July-15 $0.50690/Ccf $0.45450/Ccf $0.00000/Ccf $2.85090/MMBtu $17.52070/MMBtu Texarkana Unincorporated July-15 $0.56370/Ccf $0.26110/Ccf $1.66900/Ccf

More information

SUSTAINABILITY OF ENERGY SOURCES. Datuk Ir. Ahmad Fauzi Hasan Chief Executive Officer Energy Commission of Malaysia 23 October 2012

SUSTAINABILITY OF ENERGY SOURCES. Datuk Ir. Ahmad Fauzi Hasan Chief Executive Officer Energy Commission of Malaysia 23 October 2012 SUSTAINABILITY OF ENERGY SOURCES Datuk Ir. Ahmad Fauzi Hasan Chief Executive Officer Energy Commission of Malaysia 23 October 2012 What Is Sustainable Energy? The provision of energy such that: it meets

More information

COE BIDDING RESULTS 2009 Category B Cars >1600 cc

COE BIDDING RESULTS 2009 Category B Cars >1600 cc Quota System A COE BIDDING RESULTS 2009 B Jan-2009 Quota 1,839 1,839 1,100 1,099 274 268 409 411 767 758 Successful bids 1,784 1,832 1,100 1,097 274 260 401 386 763 748 Bids received 2,541 2,109 1,332

More information

Annual Energy Outlook 2015

Annual Energy Outlook 2015 For Columbia University New York, NY By Adam Sieminski U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov Key results from (AEO215)

More information

Q ICAEW Business Confidence Monitor results

Q ICAEW Business Confidence Monitor results Q3 216 ICAEW Business Confidence Monitor results July 216 Outline 1. Confidence 2. GDP forecast 3. Trends in sales, domestic & export 4. Impact: skills, costs, capacity, profits & prices 5. Responses:

More information

Consumer ID Theft Total Costs

Consumer ID Theft Total Costs Billions Consumer and Business Identity Theft Statistics Business identity (ID) theft is a growing crime and is a growing concern for state filing offices. Similar to consumer ID theft, after initially

More information

Crude Oil Price Decline. January 2015

Crude Oil Price Decline. January 2015 Price Decline January 2015 Crude Oil Prices in the U.S. West Texas Intermediate Crude Oil Spot Price - 2014 $120 $110 $100 The price of WTI fell 49% in the second half of 2014 $90 $80 $70 $60 $50 $40 Dec-14

More information

San Lorenzo Valley Water District Annual Rainfall History Graph

San Lorenzo Valley Water District Annual Rainfall History Graph San Lorenzo Valley Water District Annual Rainfall History Graph 120.00 100.00 80.00 60.00 40.00 20.00 0.00 Water Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

More information

Coffee year 2014/15 ends with prices at 20-month low

Coffee year 2014/15 ends with prices at 20-month low Coffee year 2014/15 ends with prices at 20-month low The coffee market slumped further in September, following a slight rally in August, with the weakness of the real and peso again proving the most influential

More information

Direct Energy Business Monthly Webinar. Expressly for Channel Partners February 25, 2016

Direct Energy Business Monthly Webinar. Expressly for Channel Partners February 25, 2016 Direct Energy Business Monthly Webinar Expressly for Channel Partners February 25, 2016 Webinar Agenda Tim Bigler, Sr. Market Strategist Commodity Market Update Beau Gjerdingen, Meteorologist Spring weather

More information

How to Construct a Seasonal Index

How to Construct a Seasonal Index How to Construct a Seasonal Index Methods of Constructing a Seasonal Index There are several ways to construct a seasonal index. The simplest is to produce a graph with the factor being studied (i.e.,

More information

Adjusted Estimates of Texas Natural Gas Production

Adjusted Estimates of Texas Natural Gas Production Adjusted Estimates of Texas Natural Gas Production Background The Energy Information Administration (EIA) is adjusting its estimates of natural gas production in Texas for 2004 and 2005 to correctly account

More information

Falling home prices, worsening credit availability, shrinking equity values, and growing

Falling home prices, worsening credit availability, shrinking equity values, and growing Economic Outlook Falling home prices, worsening credit availability, shrinking equity values, and growing job losses delivered a crushing blow to the national and California economies in 2008. Consumer

More information

Babson Capital/UNC Charlotte Economic Forecast December 8, 2015

Babson Capital/UNC Charlotte Economic Forecast December 8, 2015 Babson Capital/UNC Charlotte Economic Forecast December 8, 2015 The data used in this report comes from the websites for the U.S. Department of Commerce's Bureau of Economic Analysis (www.bea.gov) and

More information

Causes and Consequences of the Decline in the Price of Oil since June 2014

Causes and Consequences of the Decline in the Price of Oil since June 2014 Causes and Consequences of the Decline in the Price of Oil since June 2014 Christiane Baumeister Lutz Kilian University of Notre Dame University of Michigan CEPR Brent Price of Crude Oil in 2013 and 2014

More information

The Changing Relationship Between the Price of Crude Oil and the Price At the Pump

The Changing Relationship Between the Price of Crude Oil and the Price At the Pump In 2007, what goes up, does not necessarily come down... May 3, 2007 The Changing Relationship Between the Price of Crude Oil and the Price At the Pump Prepared by: Tim Hamilton Petroleum Industry Consultant

More information

NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS

NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS I. Summary NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS This brief white paper on natural gas prices is intended to discuss the continued and sustained level of natural gas prices at overall higher levels.

More information

ONTARIO ENERGY REPORT Q4 2014

ONTARIO ENERGY REPORT Q4 2014 ONTARIO ENERGY REPORT Q4 OCT DEC OIL AND NATURAL GAS Regular Gasoline and Diesel Provincial Retail Prices ($/L) Natural Gas Effective Prices ( /m 3 ) Regular Gasoline $1.12 Diesel $1.25 Source: Ministry

More information

Read Through The Letters of Paul in 2016

Read Through The Letters of Paul in 2016 Read Through The Letters of Paul in 2016 JANUARY Jan 1: Romans 1:1-6 Jan 2: Romans 1:7-11 Jan 3: Romans 1:12-17 Jan 4: Romans 1:18-22 Jan 5: Romans 1:23-28 Jan 6: Romans 1:29-32 Jan 7: Romans 2:1-7 Jan

More information

April Gross Receipts Show Impact of Low Oil and Gas Prices

April Gross Receipts Show Impact of Low Oil and Gas Prices OKLAHOMA STATE TREASURER KEN MILLER For Immediate Release: May 5, 2015 April Gross Receipts Show Impact of Low Oil and Gas Prices OKLAHOMA CITY Oklahoma s April Gross Receipts to the Treasury report shows

More information

Commodity Price Outlook & Risks

Commodity Price Outlook & Risks Commodity Outlook & Risks Research Department, Commodities Team January, 2 www.imf.org/commodities commodities@imf.org This monthly report presents a price outlook and risk assessment for selected commodities

More information

Commodity Price Outlook & Risks

Commodity Price Outlook & Risks Commodity Outlook & Risks Research Department, Commodities Team September, 20 www.imf.org/commodities commodities@imf.org This monthly report presents a price outlook and risk assessment for selected commodities

More information

Inflation in IRAN Overview & Forecast

Inflation in IRAN Overview & Forecast Research, Planning and Budgeting Division Economic Research Unit Feb. 2016 Inflation in IRAN Overview & Forecast Q1-2016 No.5 Research, Planning and Budgeting Division Economic Research Unit June. 2016

More information

Electric Market National Overview

Electric Market National Overview Electric Market Overview Electric Market National Overview 1122 Electric Market Overview: Generation Output and Temperatures Page 2 of 8 Weekly U.S. Electric Generation Output and Temperatures Electric

More information

Natural Gas Diversification Strategy for PREPA GOVERNMENT DEVELOPMENT BANK FOR PUERTO RICO

Natural Gas Diversification Strategy for PREPA GOVERNMENT DEVELOPMENT BANK FOR PUERTO RICO Natural Gas Diversification Strategy for PREPA GOVERNMENT DEVELOPMENT BANK FOR PUERTO RICO Agenda 1 Importance of Diversifying to Natural Gas 2 Natural Gas Diversification Strategy 2 Currently, Puerto

More information

Natural Gas Markets in 2006

Natural Gas Markets in 2006 Order Code RL33714 Natural Gas Markets in 2006 Updated December 12, 2006 Robert Pirog Specialist in Energy Economics and Policy Resources, Science, and Industry Division Natural Gas Markets in 2006 Summary

More information

Economic Update as of June 30, 2016

Economic Update as of June 30, 2016 MACRO Report: Review of Wyoming s Economy Economic Update as of June 30, The MACRO Report is a quarterly publication comprised of charts focusing on energy, employment, state revenues, and other indicators

More information

Statoil s Gas Business. Jan Rune Schøpp, SVP, Natural Gas - Strategy and Analysis Oslo, 17 November 2009

Statoil s Gas Business. Jan Rune Schøpp, SVP, Natural Gas - Strategy and Analysis Oslo, 17 November 2009 Statoil s Gas Business Jan Rune Schøpp, SVP, Natural Gas - Strategy and Analysis Oslo, 17 November 2009 A challenging gas market Reduced UK industrial demand, similar reductions through out Europe Increased

More information

Fixed Income 2015 Update. Kathy Jones, Senior Vice President Chief Fixed Income Strategist, Schwab Center for Financial Research

Fixed Income 2015 Update. Kathy Jones, Senior Vice President Chief Fixed Income Strategist, Schwab Center for Financial Research Fixed Income 2015 Update Kathy Jones, Senior Vice President Chief Fixed Income Strategist, Schwab Center for Financial Research 1 Fed: Slow and Low 2015 Fixed Income Outlook 2 Yield Curve Flattening 3

More information

The Airline Industry Since 9/11: Overview of Recovery and Challenges Ahead

The Airline Industry Since 9/11: Overview of Recovery and Challenges Ahead The Airline Industry Since 9/11: Overview of Recovery and Challenges Ahead Dr. Peter P. Belobaba MIT Global Airline Industry Program Washington, DC March 26, 2002 Outline Airline Performance 2001 Weakening

More information

Example of a diesel fuel hedge using recent historical prices

Example of a diesel fuel hedge using recent historical prices Example of a diesel fuel hedge using recent historical prices Firm A expects to consume 5,, litres of diesel fuel over the next 12 months. Fuel represents a large expense for the firm, and volatile prices

More information

Some Theory on Price and Volatility Modeling

Some Theory on Price and Volatility Modeling Some Theory on Price and Volatility Modeling by Frank Graves and Julia Litvinova The Brattle Group 44 Brattle Street Cambridge, Massachusetts 02138 Voice 617.864.7900 Fax 617.864.1576 January, 2009 Copyright

More information

CERI Commodity Report Natural Gas

CERI Commodity Report Natural Gas January 1 CERI Commodity Report Natural Gas Turm-oil in Natural Gas Markets Paul Kralovic On December 3, 15 the daily spot price at Henry Hub dropped to US$1.3 per MMBtu, its lowest point since December

More information

Ashley Institute of Training Schedule of VET Tuition Fees 2015

Ashley Institute of Training Schedule of VET Tuition Fees 2015 Ashley Institute of Training Schedule of VET Fees Year of Study Group ID:DECE15G1 Total Course Fees $ 12,000 29-Aug- 17-Oct- 50 14-Sep- 0.167 blended various $2,000 CHC02 Best practice 24-Oct- 12-Dec-

More information

Displacement of Coal with Natural Gas to Generate Electricity

Displacement of Coal with Natural Gas to Generate Electricity Displacement of Coal with Natural Gas to Generate Electricity The American Coalition for Clean Coal Electricity (ACCCE) supports a balanced energy strategy that will ensure affordable and reliable energy,

More information

Employment and Vacancies Survey: November Economy wide Vacancies Increased Significantly in November 2005

Employment and Vacancies Survey: November Economy wide Vacancies Increased Significantly in November 2005 Employment and Vacancies Survey: November 2005 Economy wide Vacancies Increased Significantly in November 2005 Economy wide vacancies increased by a significant 7 percentage points in the month of November

More information

Economy Wide Vacancies Fell in December 2005

Economy Wide Vacancies Fell in December 2005 Economy Wide Vacancies Fell in December 2005 Economy wide vacancies fell by 3 percentage points in the month of December 2005. The percentage of firms with vacancies, which had increased significantly

More information

Energy Savings from Business Energy Feedback

Energy Savings from Business Energy Feedback Energy Savings from Business Energy Feedback Behavior, Energy, and Climate Change Conference 2015 October 21, 2015 Jim Stewart, Ph.D. INTRODUCTION 2 Study Background Xcel Energy runs the Business Energy

More information

Short-Term Energy Outlook

Short-Term Energy Outlook November 2012 Short-Term Energy Outlook Hurricane Sandy resulted in the loss of electric power to about 8.5 million customers on the East Coast and the shutdown of two refineries, major petroleum distribution

More information

IAMU Natural Gas Pricing Impact to the Iowa Electric Power Generator 10/2/13 Jim Borowicz Key Energy Services, LLC

IAMU Natural Gas Pricing Impact to the Iowa Electric Power Generator 10/2/13 Jim Borowicz Key Energy Services, LLC IAMU Natural Gas Pricing Impact to the Iowa Electric Power Generator 10/2/13 Jim Borowicz Key Energy Services, LLC Natural Gas Pricing Supply Transportation Capacity How Natural Gas is Priced Futures Contract

More information

Your guide to electricity pricing in Ontario

Your guide to electricity pricing in Ontario Your guide to electricity pricing in Ontario A guide designed to help you understand and decipher the components of your electricity bill for your Ontario-based commercial or manufacturing business. -

More information

NATIONAL CREDIT UNION SHARE INSURANCE FUND

NATIONAL CREDIT UNION SHARE INSURANCE FUND NATIONAL CREDIT UNION SHARE INSURANCE FUND PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS RENDELL L. JONES CHIEF FINANCIAL OFFICER MANAGEMENT OVERVIEW Balance Sheet Other - Insurance and Guarantee Program

More information

Natural Gas Year-In-Review 2006

Natural Gas Year-In-Review 2006 Natural Gas Year-In-Review 2 This report provides an overview of the natural gas industry and markets in 2 with special focus on the first complete set of supply and disposition data for 2 from the Energy

More information

3/2/2016. Association of Equipment Management Professionals U.S. Economic and Market Outlook. Labor Market Solid. Job Quitting

3/2/2016. Association of Equipment Management Professionals U.S. Economic and Market Outlook. Labor Market Solid. Job Quitting Association of Equipment Management Professionals U.S. Economic and Market Outlook 34 th Management Conference and Annual Meeting Thursday, March 17, 2016 Jim Huntzinger, Chief Investment Officer BOK Financial

More information

New Jersey Private Sector Employment Up by 57,500 Jobs Over the Past Year Preliminary Data: July Employment Contracts

New Jersey Private Sector Employment Up by 57,500 Jobs Over the Past Year Preliminary Data: July Employment Contracts Media Contact Amanda Pisano 609-984-2841 EMAIL: MediaCalls@dol.state.nj.us New Jersey Private Sector Employment Up by 57,500 Jobs Over the Past Year Preliminary Data: July Employment Contracts TRENTON,

More information

NTREIS MLS Area Housing Activity Report Compiled for North Texas Real Estate Information System. Current Month Summary for: July 2016

NTREIS MLS Area Housing Activity Report Compiled for North Texas Real Estate Information System. Current Month Summary for: July 2016 Use PDF Bookmarks for direct link to report tables. NTREIS MLS Area Housing Activity Report Compiled for North Texas Real Estate Information System Current Month Summary for: July 2016 Property Type Sales

More information

The Outlook for Nuclear Energy In a Competitive Electricity Business

The Outlook for Nuclear Energy In a Competitive Electricity Business 1776 I STREET N.W. SUITE 400 WASHINGTON, D.C. 20006 202.739.8000 The Outlook for Nuclear Energy In a Competitive Electricity Business Executive Summary: Nuclear Units Competitive, Profitable in Deregulated

More information

Overview. Metered. Recovery. Billing. Demand. Power & Light Tariffs OVERVIEW METERED ELEMENTS OF PL BILLS FUEL COST RECOVERY BILLING DEMAND

Overview. Metered. Recovery. Billing. Demand. Power & Light Tariffs OVERVIEW METERED ELEMENTS OF PL BILLS FUEL COST RECOVERY BILLING DEMAND Power & Light Tariffs Overview OVERVIEW Metered METERED ELEMENTS OF PL BILLS The Power & Light tariffs (PL-Small, PL-Medium, and PL-Large) are used by most commercial and industrial customers, as well

More information

Oil Markets Update- October 2015

Oil Markets Update- October 2015 SICO Research November 23, - October Crude prices remain low in October led by oversupply and weak economic indicators October has been a volatile month for crude prices; Brent reached USD 53.05/bbl in

More information

Short-Term Energy Outlook Market Prices and Uncertainty Report

Short-Term Energy Outlook Market Prices and Uncertainty Report July 2014 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: After an upward move in mid-june, crude oil prices retreated close to previous levels. The North Sea Brent front

More information

Natural Gas Wholesale Prices at PG&E Citygate as of November 7, 2006

Natural Gas Wholesale Prices at PG&E Citygate as of November 7, 2006 QUARTERLY GAS ISSUES UPDATE December 26 I. Supply Issues Wholesale Natural Gas Prices Above normal temperatures and a lack of hurricane activity caused market prices to decrease in October. By November,

More information

THE OIL MARKET, OPEC AND THE MIDDLE EAST: ECONOMICS AND POLITICS Manouchehr Takin*

THE OIL MARKET, OPEC AND THE MIDDLE EAST: ECONOMICS AND POLITICS Manouchehr Takin* Oil, Middle East, and the Global Economy USC April 2016 THE OIL MARKET, OPEC AND THE MIDDLE EAST: ECONOMICS AND POLITICS Manouchehr Takin* * International Oil & Energy Consultant E-mail: manouchehr.takin@gmail.com.

More information

Led by growth in Texas, the Southeast, and Northeast, power burn is headed for a January record

Led by growth in Texas, the Southeast, and Northeast, power burn is headed for a January record EIA - Natural Gas Weekly Update for week ending January 28, 2015 Release Date: January 29, 2015 Next Release: February 5, 2015 In the News: Led by growth in Texas, the Southeast, and Northeast, power burn

More information

Utah Associated Municipal Power Systems. Kaysville City May 6, 2014

Utah Associated Municipal Power Systems. Kaysville City May 6, 2014 Utah Associated Municipal Power Systems Kaysville City May 6, 2014 UAMPS Overview An energy services interlocal that provides electric services on a non-profit basis to its members. Organized to develop,

More information

Presentation to the Staff Subcommittee on Gas 2010 NARUC Winter Committee Meetings Washington, D.C. February 14, 2010

Presentation to the Staff Subcommittee on Gas 2010 NARUC Winter Committee Meetings Washington, D.C. February 14, 2010 Presentation to the Staff Subcommittee on Gas 2010 NARUC Winter Committee Meetings Washington, D.C. February 14, 2010 CenterPoint Energy, Inc. promotes the direct use of natural gas through energy efficiency

More information

Transforming America s Energy Future. Kentucky. Energy Statistics. Developed by

Transforming America s Energy Future. Kentucky. Energy Statistics. Developed by Transforming America s Energy Future Kentucky Energy Statistics Developed by 2 2 Summary The first edition of Kentucky Energy Statistics is offered by the National Association for State Energy Officials

More information

P/T 2B: 2 nd Half of Term (8 weeks) Start: 25-AUG-2014 End: 19-OCT-2014 Start: 20-OCT-2014 End: 14-DEC-2014

P/T 2B: 2 nd Half of Term (8 weeks) Start: 25-AUG-2014 End: 19-OCT-2014 Start: 20-OCT-2014 End: 14-DEC-2014 2014-2015 SPECIAL TERM ACADEMIC CALENDAR FOR SCRANTON EDUCATION ONLINE (SEOL), MBA ONLINE, HUMAN RESOURCES ONLINE, NURSE ANESTHESIA and ERP PROGRAMS SPECIAL FALL 2014 TERM Key: P/T = Part of Term P/T Description

More information

P/T 2B: 2 nd Half of Term (8 weeks) Start: 26-AUG-2013 End: 20-OCT-2013 Start: 21-OCT-2013 End: 15-DEC-2013

P/T 2B: 2 nd Half of Term (8 weeks) Start: 26-AUG-2013 End: 20-OCT-2013 Start: 21-OCT-2013 End: 15-DEC-2013 2013-2014 SPECIAL TERM ACADEMIC CALENDAR FOR SCRANTON EDUCATION ONLINE (SEOL), MBA ONLINE, HUMAN RESOURCES ONLINE, NURSE ANESTHESIA and ERP PROGRAMS SPECIAL FALL 2013 TERM Key: P/T = Part of Term P/T Description

More information

Handel med CO2 kvoter konsekvenser for norsk energisektor

Handel med CO2 kvoter konsekvenser for norsk energisektor Handel med CO2 kvoter konsekvenser for norsk energisektor EBLs Vinterkonferanse Paris, 4. april 2008 Per-Otto Wold, CEO Point Carbon Agenda Why is carbon important for Nordic power companies? Towards a

More information

Oil Price and Korean Economy

Oil Price and Korean Economy Oil Price and Korean Economy April 17, 2015 Jaerang Lee - Contents - I. Oil Price Outlook II. Effects on Korean Economy III. Conclusion I. Oil Price Outlook Oil prices have lowered to around mid 50 dollars

More information

PJM Electric Market. PJM Electric Market: Overview and Focal Points. Federal Energy Regulatory Commission Market Oversight www.ferc.

PJM Electric Market. PJM Electric Market: Overview and Focal Points. Federal Energy Regulatory Commission Market Oversight www.ferc. PJM Electric Market: Overview and Focal Points Page 1 of 14 PJM Electric Market Source: Velocity Suite Intelligent Map Updated August 23, 21 145 PJM Electric Market: Overview and Focal Points Page 2 of

More information

Short-Term Energy Outlook Market Prices and Uncertainty Report

Short-Term Energy Outlook Market Prices and Uncertainty Report February 2016 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: The North Sea Brent front month futures price settled at $34.46/b on February 4 $2.76 per barrel (b) below

More information

Biennial Assessment of the Fifth Power Plan

Biennial Assessment of the Fifth Power Plan Summary Biennial Assessment of the Fifth Power Plan Interim Report on Fuel Price Assumptions The Fifth Power Plan includes price forecasts for natural gas, oil, and coal. Natural gas prices have by far

More information

July 2015 King County Economic and Revenue Forecast

July 2015 King County Economic and Revenue Forecast July 2015 King County Economic and Revenue Forecast Presentation to the Puget Sound Finance Officers Association August 12 th, 2015 Dave Reich Office of Economic and Financial Analysis Summary Economic

More information

Oil Markets into 2006. Peter Davies Chief Economist, BP plc British Institute of Energy Economics London. 24 January, 2006

Oil Markets into 2006. Peter Davies Chief Economist, BP plc British Institute of Energy Economics London. 24 January, 2006 Oil Markets into 26 Peter Davies Chief Economist, BP plc British Institute of Energy Economics London. 24 January, 26 Outline Oil and energy today How did we get to here? Prospects for 26 Into the medium

More information

BVRLA RVR FORUM. BMW i APPROVED USED CARS DIRECT SALES

BVRLA RVR FORUM. BMW i APPROVED USED CARS DIRECT SALES February 2015 BVRLA RVR FORUM. BMW i APPROVED USED CARS DIRECT SALES 18 FEBRUARY 2015 THE BMW i3 AND i8. BMW i3 - Launched November 2013 - Available as BEV or REX - Starting price 30,980 (excluding PICG)

More information

P/T 2B: 2 nd Half of Term (8 weeks) Start: 24-AUG-2015 End: 18-OCT-2015 Start: 19-OCT-2015 End: 13-DEC-2015

P/T 2B: 2 nd Half of Term (8 weeks) Start: 24-AUG-2015 End: 18-OCT-2015 Start: 19-OCT-2015 End: 13-DEC-2015 2015-2016 SPECIAL TERM ACADEMIC CALENDAR For Scranton Education Online (SEOL), Masters of Business Administration Online, Masters of Accountancy Online, Health Administration Online, Health Informatics

More information

IEA-IEF-OPEC Outlook Comparison

IEA-IEF-OPEC Outlook Comparison IEA-IEF-OPEC Outlook Comparison Richard Newell, Director, Duke University Energy Initiative Gendell Professor of Energy and Environmental Economics, Nicholas School of the Environment Sixth IEA-IEF-OPEC

More information

Residential Energy Consumption: Longer Term Response to Climate Change

Residential Energy Consumption: Longer Term Response to Climate Change 24 th USAEE/IAEE North American Conference July 8-10, 2004, Washington, DC Residential Energy Consumption: Longer Term Response to Climate Change Christian Crowley and Frederick L. Joutz GWU Department

More information

Leading Economic Indicator Nebraska

Leading Economic Indicator Nebraska Nebraska Monthly Economic Indicators: September 16, 2016 Prepared by the UNL College of Business Administration, Department of Economics Authors: Dr. Eric Thompson, Dr. William Walstad Leading Economic

More information

On October 21, 2008, the Federal Reserve

On October 21, 2008, the Federal Reserve Anticipated Recession Effects Gas Prices Natural Gas Prices in a Recession This is a preprint of an article published in Natural Gas & Electricity 2008, Dec., Wiley Periodicals, Inc. http://www3.interscience.wiley.com/cgi-bin/jhome/105559587

More information

Oil and Gas U.S. Industry Outlook

Oil and Gas U.S. Industry Outlook Oil and Gas U.S. Industry Outlook VERSION 01 YEAR 13 OUTLOOK: Positive fundamentals & outlook www.eulerhermes.us Key points WTI Crude is expected to continue to converge to Brent crude prices, narrowing

More information

Nonfarm Payrolls Jump 321K in November

Nonfarm Payrolls Jump 321K in November Economic Analysis Nonfarm Payrolls Jump 321K in November Kim Fraser Chase Employment growth was a jaw-dropper in November, up an astounding 321K following a revised 243K gain in October. This marks the

More information

Box 6 International Oil Prices: 2002-03

Box 6 International Oil Prices: 2002-03 Annual Report 2002-03 International Oil Prices: 2002-03 Box 6 International Oil Prices: 2002-03 Notwithstanding the state of the world economy, characterised by sluggish growth in 2002, the world crude

More information

Monetary Policy and Mortgage Interest rates

Monetary Policy and Mortgage Interest rates Monetary Policy and Mortgage Interest rates July 2014 Key Points: Monetary policy, which operates through changes in the official cash rate (OCR), is the main lever of macroeconomic management in Australia

More information