Table 14. Natural Gas Wellhead Prices: AEO Forecasts, Actual Values, and Absolute and Percent Errors, 1985-1998
|
Publication |
1985 |
1986 |
1987 |
1988 |
1989 |
1990 |
1991 |
1992 |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
Average Absolute Error |
|
(Nominal Dollars per Thousand Cubic Feet) |
|||||||||||||||
|
AEO82 |
4.15 |
5.10 |
6.02 |
6.55 |
6.83 |
7.11 |
4.09 |
||||||||
|
AEO83 |
2.87 |
2.98 |
3.25 |
3.60 |
4.10 |
4.64 |
9.31 |
2.57 |
|||||||
|
AEO84 |
2.76 |
2.82 |
3.07 |
3.39 |
3.81 |
4.34 |
7.15 |
2.08 |
|||||||
|
AEO85 |
2.60 |
2.59 |
2.61 |
2.62 |
2.84 |
3.20 |
3.62 |
4.07 |
4.51 |
5.00 |
5.53 |
1.74 |
|||
|
AEO86 |
1.73 |
1.96 |
2.29 |
2.55 |
2.82 |
3.14 |
3.64 |
4.12 |
4.66 |
5.24 |
5.81 |
6.36 |
6.82 |
2.12 |
|
|
AEO87 |
1.83 |
1.96 |
2.12 |
2.30 |
2.49 |
2.70 |
2.98 |
3.29 |
3.69 |
0.86 |
|||||
|
AEO89 |
1.62 |
1.71 |
1.90 |
2.10 |
2.49 |
2.86 |
3.18 |
3.49 |
4.10 |
4.35 |
4.65 |
1.11 |
|||
|
AEO90 |
1.78 |
1.89 |
2.70 |
0.47 |
|||||||||||
|
AEO91 |
1.77 |
1.91 |
2.12 |
2.29 |
2.38 |
2.43 |
2.48 |
2.56 |
2.65 |
0.40 |
|||||
|
AEO92 |
1.69 |
1.86 |
2.04 |
2.14 |
2.32 |
2.43 |
2.61 |
2.80 |
0.33 |
||||||
|
AEO93 |
1.85 |
1.92 |
2.06 |
2.25 |
2.35 |
2.47 |
2.63 |
0.31 |
|||||||
|
AEO94 |
1.99 |
2.13 |
2.27 |
2.40 |
2.56 |
2.65 |
0.37 |
||||||||
|
AEO95 |
1.90 |
1.99 |
1.93 |
2.03 |
2.09 |
0.23 |
|||||||||
|
AEO96 |
1.64 |
1.74 |
1.85 |
1.95 |
0.25 |
||||||||||
|
AEO97 |
2.02 |
1.81 |
1.86 |
0.26 |
|||||||||||
|
AEO98 |
2.29 |
2.16 |
0.12 |
||||||||||||
|
AEO99 |
2.12 |
0.16 |
|||||||||||||
|
Actual Value |
2.51 |
1.94 |
1.67 |
1.69 |
1.69 |
1.71 |
1.64 |
1.74 |
2.04 |
1.85 |
1.55 |
2.17 |
2.32 |
1.96 |
|
|
Average Absolute Error |
0.58 |
1.19 |
1.45 |
1.48 |
1.53 |
1.62 |
0.85 |
0.93 |
0.84 |
1.12 |
2.30 |
0.82 |
0.83 |
1.00 |
1.24 |
|
(Percent Error) |
|||||||||||||||
|
AEO82 |
65.2 |
163.1 |
260.4 |
287.8 |
304.0 |
315.8 |
232.7 |
||||||||
|
AEO83 |
14.5 |
53.5 |
94.7 |
113.3 |
142.5 |
171.1 |
500.6 |
155.7 |
|||||||
|
AEO84 |
9.9 |
45.6 |
83.6 |
100.7 |
125.2 |
153.9 |
361.4 |
125.7 |
|||||||
|
AEO85 |
3.6 |
33.5 |
56.1 |
55.3 |
67.9 |
87.1 |
121.0 |
133.8 |
121.3 |
170.3 |
256.5 |
100.6 |
|||
|
AEO86 |
-10.8 |
17.2 |
35.3 |
50.8 |
65.0 |
91.4 |
108.9 |
102.2 |
151.6 |
238.2 |
168.0 |
173.9 |
247.7 |
112.4 |
|
|
AEO87 |
9.6 |
15.9 |
25.2 |
34.4 |
52.1 |
54.9 |
45.9 |
77.7 |
137.9 |
50.4 |
|||||
|
AEO89 |
-4.1 |
1.1 |
11.3 |
28.2 |
42.8 |
40.1 |
72.1 |
125.5 |
88.7 |
87.7 |
137.3 |
58.1 |
|||
|
AEO90 |
5.3 |
10.5 |
74.0 |
29.9 |
|||||||||||
|
AEO91 |
3.5 |
16.6 |
21.6 |
12.2 |
28.7 |
57.1 |
14.3 |
10.5 |
35.3 |
22.2 |
|||||
|
AEO92 |
3.3 |
6.8 |
-0.1 |
15.9 |
49.7 |
12.1 |
12.5 |
42.6 |
17.9 |
||||||
|
AEO93 |
6.3 |
-5.9 |
11.5 |
45.4 |
8.4 |
6.3 |
34.3 |
16.9 |
|||||||
|
AEO94 |
-2.4 |
15.3 |
46.3 |
10.5 |
10.2 |
35.2 |
20.0 |
||||||||
|
AEO95 |
2.4 |
28.4 |
-11.0 |
-12.3 |
6.6 |
12.1 |
|||||||||
|
AEO96 |
5.6 |
-19.8 |
-20.4 |
-0.3 |
11.5 |
||||||||||
|
AEO97 |
-7.1 |
-22.1 |
-5.2 |
11.5 |
|||||||||||
|
AEO98 |
-1.2 |
10.4 |
5.8 |
||||||||||||
|
AEO99 |
8.3 |
8.3 |
|||||||||||||
|
Average Absolute Percent Error |
23.3 |
61.3 |
86.9 |
87.5 |
90.2 |
94.7 |
52.1 |
53.6 |
41.3 |
60.6 |
148.2 |
37.8 |
35.7 |
51.2 |
70.2 |
|
AEO = Annual Energy Outlook. |
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