The US Energy Information Administration, distributor of the world’s most scrutinised and transparent energy statistics, is facing tough budget choices on account of the government’s ongoing debt ceiling fiasco.
Indeed, as the now hard-up EIA stated in a press release on Thursday, it’s come to the point where it’s even holding meetings to seek advice on how it can make its data gathering processes more efficient:
The U.S. Energy Information Administration’s Office of Energy Statistics will lead a discussion of tough choices faced by its energy data programs as a result of the FY11 budget compromise. Meeting attendees will have the opportunity to comment and offer feedback. Participants will hear from all Energy Statistics program groups including Electricity, Uranium and Renewables, Natural Gas and Coal, Petroleum and Biofuels, Energy Consumption, and Integrated Statistics. The presentations will focus on choices and challenges as EIA moves to improve collection efficiency, data relevance, and data quality. Participants will have opportunities to offer feedback, suggestions, and alternatives on EIA’s data coverage and statistical programs.
Presumably, if you have any tips for EIA, you too can offer feedback at the meeting which is scheduled for next Wednesday.
Though we particularly like this, albeit facetious, commercial suggestion from Reuters columnist John Kemp:
“Today’s rise in reported inventories and fall in product supplied is brought to you by Goldman Sachs, which sees nascent signs of demand destruction and recommends a negative weighting to commodities over the 3-6 month horizon”
Or:
“Barclays Capital is proud to sponsor a sharp drop in crude and especially gasoline stocks, affirming our view that prices are not yet testing levels consistent with significant and sustained loss of demand”
Cue pictures of orphaned statistics and a cutover slogan: “A donation of just $10,000 per week could save a datapoint”
Related links:
Barclays attacks Goldman over crude price – FT
Goldman reiterates bearish call on commods (again) – FT Alphaville
Goldman jolts commodities market - FT Alphaville