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$200 Oil? It Could Be Asia's Gift to World: William Pesek Jr.

``The fundamentals, long term, of the oil market are very compelling, extremely compelling,'' he explains. ``I wouldn't be surprised to see $100 or $200 (for a barrel of) oil in the next five to 10 years. It's not a projection. It's that I wouldn't be surprised.''

The bad news, of course, is that Asia's rising demand for oil may outpace the world's ability to meet it or find alternative energy sources. If so, $200 oil could just be Asia's gift to the world in coming years.

Bloomberg

Posted on Friday, October 29 @ 03:38:58 PDT by aaron

Most read story about Business News; Market Research:
OPEC IS NO LONGER ABLE TO CONTAIN OIL PRICES

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