oil predictions

Oh Dear - The EIA Will Have Less Money to Make Bad Predictions With!

User Image sastyk | May 4, 2011
Far be it from me to laud cuts in spending on critical things like energy analysis...but I admit I can't work up a good head of steam about the cuts in the EIA budget. After all, the EIA has managed to consistently get it wrong on oil reserves. Here's what happened: The final fiscal year (FY) 2011 budget provides $95.4 million for the U.S. Energy Information Administration (EIA), a reduction of $15.2 million, or 14 percent, from the FY 2010 level. "The lower FY 2011 funding level will require significant cuts in EIA's data, analysis, and forecasting activities," said EIA Administrator…