Wednesday, December 07, 2005

CERA: Really, There's Plenty Of Oil, Honest

On the occaision of Kjell Aleklett testifying before the House on the subject of peak oil, CERA asks for us to take their word that peak oil isn't about to hit, claiming
A field-by-field analysis of global oil production and development shows the world is not running out of oil in the near- or medium-term, and a large increase in the availability of unconventional oils will expand global liquid hydrocarbons capacity by as much as one-fourth in the next ten years, Cambridge Energy Research Associates (CERA), an IHS company, testified to a U.S. House of Representatives subcommittee this morning

“We see no evidence to suggest a peak before 2020, nor do we see a transparent and technically sound analysis from another source that justifies belief in an imminent peak,” CERA Senior Consultant and Director of Global Oil and Gas Resources Robert Esser testified before a House Energy and Air Quality Subcommittee hearing on Understanding the Peak Oil Theory. “It will be a number of decades into this century before we get to an inflexion point that will herald the arrival of an ‘undulating plateau’ of global hydrocarbon production capacity,” Esser said.

Wouldn't it be nice if he were right?