The Oil Drum

I agree. I noted in late June, 2007 that Yergin had sent out a strong "buy signal" for oil, by asserting that oil prices would be back down to $60 in 2008. As I have previously noted, the "Yergin Indicator" suggests that oil prices will trade at about twice Yergin's predicted price within one to two years of his prediction. Do a Google Search for Daniel Yergin and click on "Daniel Yergin Day."

My take on Yergin's role in the Iron Triangle:

Net Oil Exports and the “Iron Triangle” (July, 2007)
http://graphoilogy.blogspot.com/2007/07/net-oil-exports-and-iron-triangl...

I always find it interesting that people like Matt Simmons (who are encouraging energy conservation) are widely blamed by some critics for high oil prices, while some major oil companies, some major oil exporters and some energy analysts are--in effect--encouraging increased energy consumption.

The prevailing message from some major oil companies, some major oil exporters and some energy analysts can be roughly summarized as follows “Party On Dude!”

As I have also suggested, perhaps we should be using Yergin's predictions as an opportunity to unload highly energy dependent assets on the true believers in the Yerginite Community.