Firm says oil demand has peaked in the developed world

Filed under: Forecasts, Oil

Many investors have heard about peak oil, the theory that argues that at some point in this century, perhaps as early as 2020, global oil production will peak, setting off a period of scarce oil supplies, and large increases in the price of crude, among other ramifications. There are camps that disagree and say peak oil is either very far away, or that it will never occur.

However, Daniel Yergin's Cambridge Energy Research Associates (CERA), one of the most respected research firms in the energy industry, says there's another peak that will require adjustments: peak oil demand.

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Firm says oil demand has peaked in the developed world originally appeared on BloggingStocks on Fri, 23 Oct 2009 16:30:00 EST. Please see our terms for use of feeds.

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