Four years ago, the Environmental Protection Agency released a doomsday-scenario forecast saying that the amount of electricity consumed by data centers in the U.S. would surge by 100% between the years 2005 and 2010.

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This scenario is my leading reason to forecast that we will not test the 2011 highs in 2012.

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You get the scenario we laid out in this forecast.

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However, the above scenario could lead to much higher margins than we forecast.

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In this scenario, its margins could suffer even more that our current forecast.

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In a scenario where the number of contracts traded via Nasdaq doubles our current forecast to reach 36 million by 2017, this would result in 25% upside to our price estimate for Nasdaq assuming similar economics.

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In this scenario, if we take out the 12 million or so BlackBerries from our 110 million that we forecast, this leaves us with around 98 million units sold by 2015.

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But even this scenario depends heavily on a return to economic growth, says Magna's Brian Wieser, who prepared the forecast.

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