Cambridge Energy Research Associates, also known as CERA, is a consulting company that specializes in advising governments and private companies on energy markets, geopolitics, industry trends, and strategy.^[where?] The company was founded in 1983 by Pulitzer Prize winning author Daniel Yergin and James Rosenfield. Comprising experts from many fields within the energy industry, CERA was acquired by IHS Energy in 2004.

Contents 1 CERAWeek 2 Oil Price Predictions 3 Peak Oil 4 Leadership 5 External links 6 References

[edit] CERAWeek

Some of the company's largest clients include international energy companies, energy consumers, governments, utilities, technology companies, and financial institutions. Many of them attend CERAWeek, the company's annual conference held in Houston, Texas. Daily programs usually revolve around the topics of oil, natural gas, electric power, renewables, and technology.

Past keynote speeches have been given by the energy secretaries and ministers of Saudi Arabia, Iraq, Mexico, Norway, and the United States. Other notable speakers have included former US Secretary of the Treasury Robert Rubin, US Secretary of Energy Samuel Bodman, former Colorado Senator Gary Hart; former US Secretary of Commerce Donald L. Evans; , former Federal Reserve Chairman Alan Greenspan, Microsoft CEO Steve Balmer, and former Secretary General of OPEC Rilwanu Lukman.

[edit] Oil Price Predictions

Many of the predictions of future oil prices made by CERA have proved to have been inaccurate. Nevertheless, CERA and Daniel Yergin are frequently cited in oil-price related news.

Date	Prediction	Actual Data
2002-02-01	$20 [1]	$26.16
2003-02-20	$20 to $25 [2]	$31
2004-02-11	$25 to $35[3]	$65
2005-06-11	$30 to $40[4]	$57
2007-06-27	$60 to $65[5]	$100
2007-09-14	under $80[6]	above $100

[edit] Peak Oil

As the controversy over Peak Oil intensified in 2006, CERA found itself on the optimistic side of predictions, forecasting that a peak would not occur before 2020, and this would not be a "peak" but rather an undulating plateau. [1] This opinion has been met with criticism by those who believe a peak has already occurred or is imminent.[2][3][4][5] In June of 2008, CERA called $120-$150 per barrel the "break point" for oil, the point where demand erosion would halt the price rise.[6]

[edit] Leadership

• Daniel Yergin, Chairman

[edit] External links

• Cambridge Energy Research Associates home page
• CERAWeek: CERA's Annual Executive Conference
• CERA News, Events and Reports
• Reflections on historical accuracy of CERA predictions
• The Sad Record of Daniel Yergin and Cambridge Energy Research Associates
• Graph of prediction failures

[edit] References