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The History of CERA Price Predictions for Crude Oil

If it weren't so serious it would be funny. Cambridge Energy Research Associates, the unofficial PR agency of the U.S. Oil Industry, consistently grabs headlines with optimistic blather about the future availability and price of petroleum. Why do reporters keep quoting them when they're so consistently wrong?

We grabbed this from The Oil Drum to share with you, because it does a great job of presenting graphically the disconnect between CERA's consistent optimism and the subsequent reality. The "Yergin" in the title is Dan Yergin, the Pulitzer-Prize Winning Author of The Prize: The Epic Quest for Oil, Money, and Power.