Jeff Rubin has hit the bull's eye twice this decade with aggressive long-term oil-price forecasts, and if his latest prediction proves correct - oil at US$150 a barrel in the next four years - Canada will become a global oil superpower thanks to Alberta's oilsands.
In a report yesterday, Mr. Rubin, chief economist at CIBC World Markets, said world oil supplies cannot keep pace with the accelerating rate at which existing fields are being depleted.
The bank's investment arm studied the world's 200 largest new oil projects, including those in the oilsands, and concluded output from many will be slowed in the next four years by protracted delays and cost overruns....MORE
