Saturday, April 25, 2009

EIA Presentations

The EIA has placed presentation materials from its recent conference on its web site. The materials are a little dry without the commentary from those presenting. For example, an excellent presentation given by Robert Weiner of George Washington University would be much improved if the superb live talk he gave were superimposed over the slides. Weiner's analysis of non-public CFTC data shows that large groups acting independently but in similar patterns ("herding" and "flocking") is not significant in oil markets. In other words, the analysis clearly shows that speculation is not a driver of oil prices. Fundamental physical supply and demand drive prices. The EIA recorded the presentations. Hopefully the recordings will be posted online.
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