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Building A Consensus Forecast For Crude Oil Prices, Kenneth W. Burke

Theses and Dissertations

Skyrocketing fuel prices have stressed the Department of Defense's budget in recent years. In 2001 the DoD spent $4.7 Billion on fuel with the Air Force consuming $2.7 Billion. These figures have grown over due to these increases as well as the increased flying ours to support the Global War On Terror. In fact, the Fiscal Year 2007 budget has already been increased by $1.1 billion, or 1% of the total budget, to accommodate the increased price of fuel. Current forecasts of this resource have yielded poor results, impairing the DoD's ability to budget this critical expense. Further because the …