Posts tagged “predictions”
In the previous article, I graded the 2013 predictions that I made a year ago. I scored well on the direction of oil and gas prices, the shrinking Brent-West Texas Intermediate (WTI) differential, and continued growth in US oil production (although it grew even faster than I expected). My only complete miss was that I expected approval for the northern leg of the Keystone XL pipeline. (The southern leg, incidentally, is scheduled to begin shipping oil this week from the major crude oil storage hub at Cushing, Oklahoma to the Gulf Coast near Houston).
Today I offer up my predictions, and the reasoning behind them, for what I think will transpire in 2014. One thing I have learned in making predictions is that they must be specific, and not subject to interpretation at the end of the year.
“The US oil industry will continue to thrive” is much too vague. “The price of crude will rise” is also too vague, because perhaps crude rises for part of the year, or perhaps some crudes rise and some don’t. On the other hand, “The average price of Brent crude will be higher in 2014 than in 2013” is specific and measurable. CONTINUE»
In my list of Top 10 Energy Related Stories of 2010, I made three predictions for 2011. Those predictions were: I believe high oil prices will continue to put a strain on the economies of oil-importing nations. I expect that we will see oil prices once again head above $100 per barrel, although I expect the annual average for 2011 to be below $100 because of sluggish economies. I also expect that the bills are going to start coming due for some of the high profile ‘next generation’ biofuel producers, and that we will see bankruptcies from some of the companies I have discussed in this column. In hindsight, those predictions look pretty tame. However, bear in mind that oil… Continue»
I knew nothing about Barack Obama until my wife brought him up following his keynote address at the 2004 Democratic National Convention. She told me “I just saw a speech from a man that I think will be president some day.” After watching a few speeches by Obama, I concluded that she was on to something. He was a dynamic speaker, and inspired people in a way that few politicans do. So I am sticking with the prediction I made when Hillary Clinton was still the favorite to win the Democratic nomination: Tomorrow Senator Obama will win the presidency. Further, I predict that it won’t be close; that Obama will have well over 300 electoral votes and will probably beat… Continue»
I have made a lot of predictions in my writings, and my own impression is that my track record has been pretty good. But I started wondering a few days ago if that’s because I tend to remember the accurate predictions and forget the inaccurate predictions. So, I decided to dig up all of the predictions I have made in my writings about energy. I will classify the predictions as successful, pending, or failed. If you can think of some that I have forgotten, particularly on the failed predictions, point them out and I will add them to the list. I do tend to pepper my predictions with caveats, because I think it is important for people to understand the… Continue»