Oil at $225 a Barrel? Gas at $2.25 a Litre? By 2012?
Well when the lead thinking head at the Canadian Imperial Bank of Commerce thinks so, I figure it's time to start polishing my bike.
"The point is that the solution lies not with the supply curve, it lies with the demand curve," Rubin said. "It's not about finding new sources of energy supply, it's about consuming less energy, because ultimately, that's what we're going to have to do."Emphasis mine.
Jeff Rubin figures that peak oil plus increased demand for it from the "developing nations" will result in higher prices. Go read the article.