I hypothesize that the price spike and collapse of 2007-2008 are driven by both changes in both market fundamentals and speculative pressures. Contrary to arguments for a demand shock, I hypothesize that prices rise sharply in 2007-2008 because ongoing growth in Chinese oil demand runs into a...

We revisit statistical estimates for the relation between weather and energy consumption in Massachusetts using times series for heating degree hours that are calculated from hourly data with different set points and set backs. Using hourly values to calculate heating degree hours supports...

Although there is a general consensus that the market is unified, here we quantify the factors that create regions by analyzing the price relation between 33 crude oils. ADF statistics indicate that 447 of the 528 crude oil pairings cointegrate; 81 do not. The presence/absence of cointegration is...

Oil prices, inventory levels, and utilization rates are influenced by changes that are transmitted horizontally and/or vertically through the energy supply chain. We define horizontal transmissions as changes that are generated by linkages among fuels at a similar stage of processing while...