Cambridge Energy Research Associates Projects Oil At Four Yergin Units This Year!!!! WSJ

[hatrack]

Well, actually it's 3.947 Yergins, but hey, close enough!

EDIT

Even more unusual is that oil has maintained its upward momentum in the face of sharply diminished U.S. demand, which fell in February to 19.7 million barrels a day. That was down a million barrels a day from the 2007 average. An increase in U.S. demand, perhaps driven by the $152 billion in government stimulus payments to consumers, could crimp an already tight international oil market.

The main factors that could send prices down, analysts say, would be a sharp downturn in global oil demand or some sudden flight from commodities among international investors.

"It's not that the genie is out of the bottle -- it's that 100 genies are out of the bottle," said Daniel Yergin, chairman of Cambridge Energy Research Associates. Normally known for optimistic forecasts of lowering oil prices, Mr. Yergin's firm now says the price could rise to $150 a barrel this year.

The world's diminished spare production capacity remains the strongest single catalyst for high prices, Mr. Yergin says. The world's safety cushion -- the amount of readily available oil that could be pumped in a moment of crisis -- is now around two million barrels a day, according to most estimates. That's just 2.3% of daily demand, and nearly all of the safety cushion is in one country, Saudi Arabia. Everyone else is pretty much pumping all they can, which makes the world vulnerable to political or other shocks.

EDIT

http://online.wsj.com/article_email/SB121010625118671575-lMyQjAxMDI4MTAwNjEwMDY2Wj.html

[GliderGuider]

1. Holy crap!

Reality has penetrated their CERAbellums?
:wow:

[Strelnikov_]

2. Yergin moved the goalposts!!!!

Yergin moved the goalposts!!!!

A 3.947:1 Yergin unit swap!!!!