Monday, September 7, 2009

$200 oil forecast by 2010?

In an interview with Rigzone Jeff Rubin believes that oil prices are going to escalate much higher. In his book Why Your World Is About to Get a Whole Lot Smaller: Oil and the End of Globalization, Rubin foretells $200 oil and a vastly transformed global economic picture coming into focus very soon.

The chief economist at CIBC World Markets in Canada for 20 years, Rubin correctly predicted the price of oil reaching $50 in 2005 and $100 in 2007. No one believed him then, either.

"There continues to be widespread skepticism regarding my oil price forecast," Rubin told Rigzone. "As I noted in the book, few people have ever changed their minds during the entire history of the peak oil debate, at least insofar as 'experts' are concerned."

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