[Federal Register: December 3, 2002 (Volume 67, Number 232)]
[Notices]
[Page 71959-71960]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr03de02-79]
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DEPARTMENT OF ENERGY
Energy Information Administration
Policy Statement; Energy Information Administration Policy for
Release of the Weekly Petroleum Status Report; Comment Request
AGENCY: Energy Information Administration (EIA), Department of Energy
(DOE).
ACTION: Policy statement. Energy Information Administration Policy for
release of the weekly petroleum status report; comment request.
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SUMMARY: The Energy Information Administration (EIA) is soliciting
comments on a proposed change in the policy for the release time of
EIA's Weekly Petroleum Status Report (WPSR). Under the proposed policy,
the release time would be changed to coincide with normal New York
Mercantile Exchange (NYMEX) and International Petroleum Exchange (IPE)
trading hours.
DATES: Comments must be filed by January 2, 2003. If you anticipate
difficulty in submitting comments within that period, contact the
person listed below as soon as possible.
ADDRESSES: Send comments to Ronald W. O'Neill. To ensure receipt of the
comments by the due date, submission by FAX (202-586-5846) or e-mail
ron.oneill@eia.doe.gov) is recommended. The mailing address is Ronald
W. O'Neill, M.S. EI-42, Forrestal Building, U.S. Department of Energy,
Washington, DC 20585-0640. Alternatively, Mr. O'Neill may be contacted
by telephone at (202) 586-2991.
FOR FURTHER INFORMATION CONTACT: Requests for additional information
should be directed to Ronald W. O'Neill at the address above. The WPSR
is available on EIA's Internet site at http://www.eia.doe.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html
.
SUPPLEMENTARY INFORMATION:
I. Background
II. Current Actions
III. Request for Comments
I. Background
The Federal Energy Administration Act of 1974 (Pub. L. No. 93-275,
15 U.S.C. 761 et seq.) and the DOE Organization Act (Pub. L. No. 95-91,
42 U.S.C. 7101 et seq.) requires that EIA carry out a centralized,
comprehensive, and unified energy information program. This program
collects, evaluates, assembles, analyzes, and disseminates information
on energy resource reserves, production, demand, technology, and
related economic and statistical information. This information is used
to assess the adequacy of energy resources to meet near and long term
domestic demands.
EIA provides the public and other Federal agencies with
opportunities to comment on collections of energy information conducted
by EIA. As appropriate, EIA also requests comments on important issues
relevant to EIA's dissemination of energy information. Comments
received help EIA when preparing information collections and
information products necessary to EIA's mission.
EIA's Weekly Petroleum Status Report (WPSR) provides timely
information on supply and selected prices of crude oil and principal
petroleum products. It serves the industry, the press, planners,
policymakers, consumers, analysts, and State and local governments with
a ready, reliable source of current information.
II. Current Actions
The WPSR data are based primarily on weekly company submissions of
information as of 7 a.m. Eastern Standard Time (EST) Friday. Weekly
data are filed with EIA by 5 p.m. EST on the following Monday.
Currently, the WPSR data are publicly released electronically at 9 a.m.
each Wednesday, and the printed version is available on Friday. For
weeks that include holidays, release of the WPSR may be delayed by one
day.
The American Petroleum Institute (API) has released its version of
the same data about 5 p.m. on Tuesday. As a result, the API release was
the most closely watched and had the greatest impact on petroleum
markets. More significantly, the Tuesday night release occurred when
all major petroleum trading markets were closed. The API recently
announced that, starting January 8, 2003, they would begin releasing
their weekly data at 9 a.m. on Wednesdays.
With market focus now turning to both EIA and API data, EIA is
soliciting public opinion on the best or most beneficial release time
for the data. To the extent that the weekly supply data reflect current
market conditions, and thereby facilitate market efficiency, EIA is
considering moving its release time to 10:10 a.m. on Wednesday to
coincide with normal NYMEX and IPE trading hours. However, public
opinion is sought on alternative times as well.
III. Request for Comments
The public should comment on the actions discussed in item II
concerning the proposed policy change in the WPSR release schedule.
Comments submitted in response to this notice will be considered
during final development of EIA's policy for scheduled releases of the
WPSR. The comments will also become a matter of public record. After
EIA has considered any comments and developed the final WPSR release
policy, a Federal Register notice will be issued announcing the policy.
[[Page 71960]]
Statutory Authority: Section 52 of the Federal Energy
Administration Act (Pub. L. No. 93-275, 15 U.S.C. 790a).
Issued in Washington, DC, November 27, 2002.
Jay H. Casselberry,
Agency Clearance Officer, Statistics and Methods Group, Energy
Information Administration.
[FR Doc. 02-30563 Filed 12-2-02; 8:45 am]
BILLING CODE 6450-01-P