Rep. Edward Markey (D-MA) spoke here in Houston today at a conference sponsored by the Cambridge Energy Research Associates (hosted by CERA chairman Daniel Yergin). Trying to defuse controversy (he is addressing an industry that he dislikes), Markey told the Houston Chronicle: “The headline should be: ‘I agree with T. Boone Pickens’.”…
Continue ReadingMuch attention was garnered last year by those, like T. Boone Pickens, who predicted oil prices rising to $200-300 per barrel with a year or two, but less attention has been paid to the recently revised forecast of the US Department of Energy, published in preview of its Annual Energy Outlook. The Outlook appeared in January, when prices had already plummeted, but was presumably written earlier, when prices were higher. It included the seemingly moderate forecast of prices rising to $70 by 2010 and $110 by 2015, as the figure shows.…
Continue ReadingWhile I’m quoted in the Houston Chronicle’s CERAweek column on an optimistic note, developments with the “stimulus” package make me less optimistic by the day. What I told Tom Fowler of the Chronicle, when discussing the anti-oil mentality of Representative Ed Markey, now chairman of the House Energy and Commerce Subcommittee on Energy and the Environment, was…
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