Tom Kloza, chief oil analyst at OPIS, is a go-to source on all things fuel for the country’s top media outlets. He has been writing about downstream oil markets since 1975 and was among the founders of OPIS over 25 years ago. Whether he is discussing fuel prices with the Wall Street Journal’s Market Watch or on National Public Radio or dishing on U.S. production with Politico, Kloza is frequently in the news. He regularly contributes to The New York Times and USA Today. In addition to the expert commentary he shares in print, he has appeared on camera in energy forums for CNBC, Nightline, the CBS Morning Show and Good Morning America.
In February, he will bring his insights directly to truckstop and travel plaza operators at The NATSO Show. Kloza is an engaging speaker and is a wealth of knowledge on fuel-related issues, including supply and demand and the fuel forecast. Kloza is also a frequent guest lecturer on fuel price economics at a number of colleges and universities as well as for key petroleum associations and writes his own blog.
Read on for excepts from some of Kloza’s recent media contributions:
Wall Street Journal: “Retail gasoline prices have slowly been drifting lower since we hit a late summer peak of $3.8708 a gallon on Sept. 14,” said Tom Kloza, chief oil analyst at the Oil Price Information Service (OPIS). “There is enough of a slow bleed lower in wholesale prices to suggest that we’ll be in the $3.70s this week,” he said. “There is a trend at work, but it is happening at a painstakingly slow pace thanks to tightness in gasoline supply, particularly in the Northeast, and to some extent in Chicago and in California.”
Politico: “In the end, the president and Congress can’t take credit for what price and technology have delivered,” Tom Kloza, chief oil analyst at the Oil Price Information Service, said in an email. “It would be akin to taking credit for the iPad.” Kloza said high oil prices have created incentives for expanded exploration of unconventional oil plays like the Bakken Shale in North Dakota and the Eagle Ford Shale in Texas. There, he noted, advancements in horizontal drilling and hydraulic fracturing have led to a “land rush.” “Unless there is a price collapse, or a true scientific indictment of fracking, one can expect to see plentiful growth in light sweet crude coming from the Rockies, North Dakota and even Ohio or West Virginia.”
National Public Radio:
TOM KLOZA: Unlike other summers where, perhaps, the driving was front-end loaded, this year was a little back-end loaded and there was a lot more vacation travel towards the end of August and in the week after Labor Day.
BRADY: So April through July this year, prices actually declined. Over the past two months, they’ve been going back up.
KLOZA: I think the good news is that we are peaking again and we should see lower prices in the last 100 days of the year, as is typical for most years.
Business Week: Strangely, the current run-up in prices comes despite sinking demand in the U.S. “Petrol demand is as low as it’s been since April 1997,” says Tom Kloza, chief oil analyst for the Oil Price Information Service. “People are properly puzzled by the fact that we’re using less gas than we have in years, yet we’re paying more.” Kloza believes much of the increase is due to speculative money that’s flowed into gasoline futures contracts since the beginning of the year, mostly from hedge funds and large money managers. “We’ve seen about $11 billion of speculative money come in on the long side of gas futures,” he says. “Each of the last three weeks we’ve seen a record net long position being taken.”
The L.A. Times: Analysts cited two Midwest petroleum pipeline shutdowns and two major Midwest refinery outages as the start of the U.S. price surge. Fuel prices had begun to sink when Hurricane Isaac kicked them higher again. “It’s been the summer of troubles for refineries,” said Tom Kloza, chief oil analyst for the Oil Price Information Service in New Jersey.