CSPAN2 Key Capitol Hill Hearings December 31, 2014
Gasoline demand is down from its peak and is likely to decline even more as vehicle fleet becomes more efficient. In addition to this trend reversal, International Oil production is less concentrated. Opecs share of production is down from 53 to about 35 . The existence of all contracts on the futures markets development of benchmark crude oil pricing and the availability of basic data from eia created by congress in 1977 have all brought Greater Transparency to the oil markets. As described in my written statement, eia is actively pursuing a number of important initiatives related to the time...