What the EIA's Short Term Energy Outlook Tells us about the Global Economy
The
US Energy information Administration (EIA) released its updated Short
Term Energy Outlook (STEO) May 8, 2012. The overview calls for falling
crude oil prices, falling gasoline prices, falling electric demand but
higher natural gas prices as the prospect of exports reduces fears of
excess inventory.The STEO is always a volatile cocktail of near term
market fluxuations and this update is no different. The question is
whether this short term forecast is good news or bad news about the
economic future. In the case of global oil the…Read more...
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