This morning, we attended a presentation by ITG Investment's lead energy researchers, Judith Dwarkin and Manuj Nikhanj.
The most salient was Dwarkin's argument that while oil prices may demonstrate even lengthy divergences from its "equilibrium" price, it eventually corrects.
She defines equilibrium price as between 3.3 and 3.5 percent of global GDP, based on the long-term average through several oil price and business cycles.
Reuters' energy columnist John Kemp makes an eye-popping argument in his latest column: there is now so much shale gas in the world that the price of oil will have to come down to compete with it. He refers to the EIA report that ca... Read Post
Here is my weekly gasoline chart update from Department of Energy data with an overlay of West Texas Crude (WTIC). Gasoline prices at the pump -- both regular and premium -- rose three cents over the past week. Regular is now 17.8% ... Read Post
The main argument against companies providing guidance is that without such information, stock prices will be even more volatile, with analysts and investors left to their own devices, and besides, the more information provided to i... Read Post