Oil Analyst Says Renewables Get Competitive

Those who believe that oil is running out have a special scorn for prominent oil industry consultant and analyst Daniel Yergin, chairman of Cambridge Energy Research Associates. Yergin, who wrote The Prize, the Pulitzer Prize-winning book that stands as the definitive history of the oil industry, has often dismissed concerns that the world is at or near “peak oil,” or the point at which petroleum production will begin an inexorable decline.

Peak Oilers even recently issued a $100,000 wager


The run-up in the cost of oil over the past five years has indeed made CERA’s price forecasts seem optimistic, although the consultants haven’t been totally sanguine about the oil scene