CIBC World Markets' January Report has a good article by Jeff Rubin (their chief strategist) on the predicted next oil price spike, including a good discussion of the current affect of low oil costs reducing investment in new development coupled with global oil field decline rates.
CIBC WM predicts oil price to return to $100/bbl by end of 2010 (ie. next year).
Monday, February 9, 2009
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