Get Ready for $50US Oil!!
When I was in Calgary last year visiting several oil and gas companies, the CEO of one of Canada’s best run junior oil and gas companies looked across the conference table and said something that stuck in my mind: “Get ready for $50 oil!” Such a bold prediction, made when nearly every Wall Street and Bay Street analyst was lowering his 2004 oil price prediction, underscores the massive divide in opinion on the future price of oil. Many geologists believe we are in for a period of significantly higher oil prices, while nearly all economists and the analyst community predict oil prices will fall. Who do you believe?