Predicting oil price involves many uncertain components

Predicting Oil Price Involves Many Uncertain Components

Accurately predicting the price of crude oil, gasoline and other petroleum products is like wandering through a dark, strange room trying to find the light switch. An economics professor once jokingly commented forecasters who rely heavily on the use of a crystal ball to predict the future price of oil…

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Alex Mills is the former President of the Texas Alliance of Energy Producers. The Alliance is the largest state oil and gas associations in the nation with more than 3,000 members in 305 cities and 28 states.


3 Ways Technology is Going to Shape the Oil and Gas Industry Free to Download Today

Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.

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