I was excited to see this story in the WSJ’s “Environmental Capital” blog. It’s a great mechanism for both the bullish oil supply types at CERA as well as the peak oilers at ASPO to register the intensity of their convictions in the form of a wager. From the WSJ report:
If CERA proves correct in its prediction that global oil production will rise by 20 million barrels per day by 2017, then the challengers, the Association for the Study of Peak Oil & Gas, will hand CERA a check for $100,000 nine years hence. If oil production falls short of CERA’s projection, as the group known as ASPO projects, ASPO will get the bragging rights and the check – and donate the money to charity.
My biased expectations is that the results of this bet will ultimately resemble what you can find in Julian Simon’s wikipedia entry under the heading “Paul R. Ehrlich – 1st wager.”