Current upswing in oil prices reflects "pent-up demand" for demand rather than fundamentals

The Council on Competitiveness and Marathon Oil is a holding a leadership meeting in conjunction with CERAWeek 2009 Executive Conference on Friday, February 13, 2009  at the Westin Oaks to explore The Path to Energy Diversification – Addressing Public Policy, Business and Technological Challenges to Sustainable Energy Supplies.

In an essay in the Financial Times, November 11, 2008, CERA Chairman Daniel Yergin highlights the possible impacts of lower oil prices on the world economy. Dr. Yergin poses key questions in the context of CERA’s ongoing scenario analysis over the past two years, which has included a Global Fissures recession scenario: What will happen to oil prices in the current scenario of global economic turmoil? How deep and long will the recession be? What will lower energy prices mean for new investment in oil, natural gas, electric power—and renewables and efficiency? A crucial question is oil supply. How large will be the flow of new oil supplies that were stimulated by rising prices but delayed by shortages of people and equipment? All these questions will be central to the upcoming CERAWeek 2009 in February.