Future Oil and Coal Prices: A Survey Approach
Surveys of opinions on the likely future behaviour of prices in energy markets serve a number of purposes. They provide at the individual enterprise level confirmation or otherwise of internal forecasts on which investment decisions are made. Such investments have become increasingly problematical in recent years as public concern over environmental issues has grown. Again price forecasts are particularly important in an industry subject to substantial and effective changes in market behaviour and where time series analysis does not easily yield stable and predictable economic relationships. They also often supply a useful corrective to official views of the future which are used to justify intervention in energy markets on grounds of security or environmental concern.
KeywordsEurope Steam OECD OPEC
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Notes and References
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