Skinny Singers - "Nothing Comes From Nothing"

Last year, a collaboration effort between Jackie Greene and Tim Bluhm (collectively called The Skinny Singers) released an album and, on it, was song called "Nothing Comes From Nothing". For a year, I've been trying to figure out what Jackie is doing on guitar.

It's basic; not overly complicated. Just standard I-IV-V. I even got the "I" - I pick it out as either an E7 or E Major, but it's the IV and V that got me looped. An A7 or A major work well on the IV and B7 or B Major work on the V, but it's the actual fret positions that got me scratching my head. :confused:

Could someone with a more experienced ear and fretboard knowledge help me out on what he does on the the IV and V positions here? These aren't standard positions.

http://jp.youtube.com/watch?v=07JXtVFiBU8


Thanks in advance!
- John