EIA To Track Energy Speculation | September 14, 2009 Issue - Vol. 87 Issue 37 | Chemical & Engineering News
Volume 87 Issue 37 | p. 24 | Concentrates
Issue Date: September 14, 2009

EIA To Track Energy Speculation

Department: Government & Policy
Keywords: prices, oil

The Energy Information Administration announced last week a new Energy & Financial Markets Initiative that is charged with investigating and reporting on energy speculation, hedging, investment, and exchange rates. The new initiative will move beyond EIA's traditional coverage of "energy fundamentals" data, such as consumption, production, inventories, and geopolitical risks, EIA Administrator Richard Newell says. EIA's announcement comes as concern continues to mount over the role of speculators in driving up the price of natural gas and oil over the past few years. The administration will begin collecting information from new data sources, including other federal agencies, particularly the Commodity Futures Trading Commission, Newell notes. It is now developing a system to collect, assess, and track this information, and in its initial analysis, EIA will pay particular attention to recent energy price volatility. It will begin incorporating this market information into its reports by the end of the year.

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