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May 24, 2012

Whatever Happened to $200 Oil?

Jeff Rubin, Globe and Mail

Four years ago, when I was still chief economist at CIBC World Markets, I forecast that global economic growth was on pace to send oil prices (CL-FT90.350.450.50%) to $200 (U.S.) a barrel by 2012. In short, the argument was based on a supply-driven analysis that weighed the sources of future oil supply against the prices that would be needed to make the extraction and processing of that oil economically viable.

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TAGGED: oil

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