Critical market events have created new challenges for energy companies as the industry environment has been altered considerably with each phase of the oil price cycle. Comparing past oil market disruptions to the latest 2007-2009 oil and financial market crisis can provide new lessons for policymakers and corporate leaders about how to ameliorate the effects of future market fluctuations on corporate performance, U.S. national security economic growth and development.
The workshop will consider new economic modeling approaches aimed at improving understanding of how the business cycle and oil capital investment cycle impact commodity pricing and demand patterns. The workshop will also consider frameworks to study the underlying forces involved in the global price formation process, through analysis on the role of speculators, OPEC and capital spending trends. Three economic modeling approaches will be discussed. The purpose of this workshop is to present preliminary modeling approaches for peer review and discussion.
9:00 am "Crude Oil Price - Fundamentals, Financials, Etc.: A Basic Premise for Research"
Kenneth B. Medlock III, Ph.D., James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics, Baker Institute
10:00 am "Volatile: Anatomy of Cycles - Financial and Real Production and Demand Cycles"
Mahmoud A. El-Gamal, Ph.D., Will Clayton Fellow in International Economics, Baker Institute