Cambridge Energy Research Associates
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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. Comprised of experts from many fields within the energy industry, CERA was acquired by IHS Energy in 2004.
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[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. Neverthless, CERA and Daniel Yergin are frequently cited in oil-price related news.
| Date | Prediction | Accuracy | Actual Data |
|---|---|---|---|
| 2002-02-01 | $20 [1] | wrong | $26.16 |
| 2003-02-20 | $20 to $25 [2] | wrong | $31 |
| 2004-02-11 | $25 to $35[3] | wrong | $65 |
| 2005-06-11 | $30 to $40[4] | wrong | $57 |
| 2007-06-27 | $60 to $65[5] | wrong | $100 |
| 2007-09-14 | under $80[6] | wrong | above $100 |
[edit] Leadership
- Daniel Yergin, Chairman
- James Lang, Chief Operating Officer
[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
- ^ "Technology may help combat volatile oil prices, study suggests.", Oil and Gas Invstor, February 01, 2002. Retrieved on 2008-04-21.
- ^ "US commercial oil stocks reach low", Financial Times, February 20, 2003. Retrieved on 2008-04-21.
- ^ "As Demand Rises, Oil Firms Focus on Finding New Reserves, Expanding Production.", The Dallas Morning News, February 11, 2004. Retrieved on 2008-04-21.
- ^ "Uncertain Saudi supplies hold key to China's growing thirst for oil", Pittsburg Post-Gazette, 2005-06-11. Retrieved on 2008-04-21.
- ^ "INTERVIEW-CERA's Yergin sees world oil price easing", Reuters, 2007-06-27. Retrieved on 2008-04-21.
- ^ "Greenspan, Iraq & Oil", CNBC, 2007-09-17. Retrieved on 2008-04-21.
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