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Looking for a pick: Oil price forecasts and football predictions

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Listen: Looking for a pick: Oil price forecasts and football predictions

Forecasting oil prices is a tough game, and Platts senior editors Brian Scheid and Herman Wang ask whether there's any value to long-term oil price forecasts or if there's too big of a chance of a fumble.

The US Energy Information Administration recently projected crude oil prices to be between $76/b and $252/b by 2040 and even claims this range could be off, and Brian predicts the Seahawks, Colts, Browns or another team wins Super Bowl 50. Does a prediction with this much scale and uncertainty have any value?

EIA Administrator Adam Sieminski talks to Capitol Crude about the reasoning for the forecasts and why they're necessary for markets and policymakers. Additionally, Jeff Mower, Platts' director of Americas news, and Kevin Book, managing director of ClearView Energy Partners, give their take on the value (or lack thereof) of a long-range oil price prediction.

Check back every Monday for the latest analysis of US oil policy news from leading Platts editors covering the Capitol. E-mail the editors at and

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