CERA official acknowledges “peak oil is here” [Due to geopolitical reasons & not nature]

Cambridge Energy Research Associates (CERA) ^ | June 9, 2009 | CERA Global Oil Group Managing Director Jim Burkhard

[NoLibZone]

Speaking at the Center for Strategic & International Studies (CSIS) in Washington DC on 8 June, CERA Global Oil Group Managing Director Jim Burkhard began and ended his talk by stating that “CERA acknowledges that peak oil is here, you heard it from a CERA person.”

Mr. Burkhard spoke at a CSIS session on “Transforming the Transportation Sector: Energy Security, Climate Change and Transportation”.

During his presentation, Mr. Burkhard explained that in acknowledging that peak oil is here, CERA’s interpretation is that US gasoline demand peaked in 2008 and is expected to decline in future years. He also stated that CERA maintains its position that the reasons for US liquid fuel demand having peaked are economic and geopolitical in their nature, rather than in any way driven by geologic factors.

ASPO-USA Advisory Board member Scott Pugh was present and provided this report.

Mr. Burkhard’s presentation should be available soon under “Events” at:

http://www.csis.org/researchfocus/energy/

[NoLibZone]

Oil is not traded on a free and open market.

Traders are like “Friends of the Kremlin”, taking advantage of those desiring capitalism.

[Tarpon]

Yep, when you hide your oil, and your coal, what do you expect the message that is given to others ... Raise prices, we will pay.

Stupid is a stupid does, and investing in windmills, ethanol and solar power are just about as stupid as it gets.

Especially when nuclear power is so much cheaper.

[Clioman]

Say what? I thought that ‘peak oil’ referred to supply, rather than demand.