Oil to hit $150 in five years, says CIBC

[joeiannuzzi]

Hello everyone. Here is an article which may help you forget the fear and panic out in the marketplace and focus on the fundamentals of Alberta.

http://www.canada.com/calgaryherald/news/c...04c&k=55428

 

[DonCampbell]

Sounds like it`s time to sell the SUV! But maybe not... if this will be driving demand for our real estate then we will be making more, and affording the gas to fill the SUV. What a catch 22

P.S. Just joking here! In reality we have seen oil predictions from $50 - $150 a barrell, this just tells us that politics will be playing a major role in the cost of oil over the coming years.

 

[fyim]

Here`s some more info:

http://business.timesonline.co.uk/tol/busi...icle3248484.ece

"Jeroen van der Veer, Shell`s chief executive, said in an e-mail to the company`s staff this week that output of conventional oil and gas was close to peaking. He wrote: "Shell estimates that after 2015 supplies of easy-to-access oil and gas will no longer keep up with demand."

The boss of the world`s second-largest oil company forecast that, regardless of government policy initiatives and investment in renewables, the world would need more nuclear power and unconventional fossil fuels, such as oil sands."

Regards,

Frank