A leading Norwegian economist and one of the oil-producing country's major investors think oil prices will keep rising until alternative energy starts paying off. That can mean prices of more than USD 100 a barrel within a few years.
Investor Ulltveit-Moe, a former head of Norway's largest employers' association, agrees, and notes that oil prices will likely approach levels that will make alternative energy more viable. Coal, he notes, is the biggest rival to oil, and the costs of extracting it and cutting its emissions will guide oil prices.
Seems like a lock to me.
The Devil is in the three questions the richest man I've ever met once asked me:
What's the upside?
What's the downside?
What's the timeframe?