Environment and Energy

November 22, 2015
Energy Myths Debunked
Written by Peter Wright
SMU contributing writer, Peter Wright, evaluates the oil and gas industry on a monthly basis for Steel Market Update. Energy markets are large users of hot rolled as well as pipe and tube steels. The energy market’s slowdown is one of the key reasons why the domestic steel industry has slowed this year.
Figure 1 shows historical gas and oil prices since January 2000. The daily spot price of West Texas Intermediate closed at $41.68 on November 16th, down from $45.91 on October 17th, according to the latest daily figure available from the Energy Information Administration (EIA).


