PrintOverview
In mid-2008, crude oil shocked energy markets as it reached an all-time High of $147/barrel (Bbl.) on the New York Mercantile Exchange. (See Figure 1 below.) Within four months, prices had sunk to $50 per barrel. How could this happen and what were the factors causing this level of price volatility? We will be exploring these questions in Lesson 2.
Learning Outcomes
At the successful completion of this lesson, students should be able to:
- Recognize the various factors impacting supply & demand for natural gas & crude oil
- Research major supply/demand influences
- Global economy
- Domestic economy
- Weather
- Currencies
- Energy commodity relationships
- Inventory and storage reports
- Assess the potential impact on market pricing for each factor researched
What is due for Lesson 2?
This lesson will take us one week to complete. There are a number of required activities in this module. The chart below provides an overview of the activities for Lesson 2. For assignment details, refer to the location noted.
All assignments will be due Sunday, 11:59 p.m. Eastern Time.
REQUIREMENT | LOCATION | SUBMITTING YOUR WORK |
|---|---|---|
Reading Assignment: Oil & Gas Basics Video Viewing Assignment: Understanding the Drilling Process Reading Assignment: Fracturing Operations | Lesson 2 Reading Assignment page | No submission |
| Lesson 2 Activity: "Fundamental" Factors exercise | Lesson 2 Activity page | Submitted through the course blog |
| Lesson 2 Quiz | Summary and Final tasks page | Submitted through ANGEL. |
| Discussion forum participation | Course Blog | Submitted through the course blog |
Questions?
If you have any questions, please post them to our Questions? discussion forum (not e-mail), located under the Communicate tab in ANGEL. The TA and I will check that discussion forum daily to respond. While you are there, feel free to post your own responses if you, too, are able to help out a classmate.