Wilmoth: Natural gas data release is an exact science

The U.S. Energy Information Administration takes reporting natural gas storage data seriously. Like characters in a spy movie, administration officials sync watches before releasing the weekly storage numbers to ensure they don't tip off lucky traders too early.
by Adam Wilmoth Published: March 29, 2013
Advertisement
;

Synchronize watches.

Check.

Copy the top secret data.

Check.

Move it swiftly and securely to the drop location.

Check.

In a procedure familiar to all who have seen “Mission Impossible,” the U.S. Energy Information Administration follows a strict schedule to ensure that the country's natural gas storage numbers are released at 10:30 Eastern Time every Thursday morning.

Exactly.

Not a microsecond early, and not a microsecond late.

“At 10:15 every Thursday morning, we reset our clocks to the atomic clock at the naval observatory,” EIA Administrator Adam Sieminski said at the University of Oklahoma Energy Symposium this month.

“We're pretty sure that we release it at exactly 10:30, down to the microsecond.”

Fractions of a second can mean the difference of millions of dollars.

“There's a lot of algorithmic, high-frequency trading that takes place,” Sieminski said. “The algorithms trade against each other. This is all happening literally on a microsecond basis.”

Continue reading this story on the...

by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
+ show more


Trending Now


AROUND THE WEB

  1. 1
    Thunder No. 7 in ESPN's 'Ultimate Team Rankings'
  2. 2
    This Might Explain Why Diet Soda Drinkers Are Often Overweight
  3. 3
    PHOTO: Kevin Durant is ready for the Washington Nationals' playoff run
  4. 4
    Former Rangers manager Ron Washington: 'Not true to my wife'
  5. 5
    ‘Grey's Anatomy’ Cast Gets Prison Mean for ‘Orange Is the New Black’ Parody Photo
+ show more