http://www.futurist.com/2008/01/02/oil-hits-100/ Wed, 20 Aug 2008 17:06:41 +0000 http://wordpress.org/?v=2.5.1 http://www.futurist.com/2008/01/02/oil-hits-100/#comment-31133 Outlook 2008 at Futurist.com Thu, 03 Jan 2008 05:22:42 +0000 http://www.futurist.com/2008/01/02/oil-hits-100/#comment-31133 [...] As 2007 came to a close, oil was at about $95 a barrel. Some experts predict a dramatic price decline in 2008, following historical patterns. We disagree. The new floor price is about $90, and we will see $100 in 2008, and as much as $140-150 by mid-year. Why? Increasing global demand from countries like China and India, an obvious development. But the real hidden force is increasing demand in the oil producing nations. In fact, the key metric to watch is not oil production but oil exports. Countries like Russia, Venezuela, and Mexico see their exports falling faster than their production, as they use more internally. The same is true in Saudi Arabia. Oil prices are not coming back, and 2008 is the year we realize this is true. [I recorded the video on Dec. 21, 2007- and oil hit $100 on 1/2/208.] [...] [...] As 2007 came to a close, oil was at about $95 a barrel. Some experts predict a dramatic price decline in 2008, following historical patterns. We disagree. The new floor price is about $90, and we will see $100 in 2008, and as much as $140-150 by mid-year. Why? Increasing global demand from countries like China and India, an obvious development. But the real hidden force is increasing demand in the oil producing nations. In fact, the key metric to watch is not oil production but oil exports. Countries like Russia, Venezuela, and Mexico see their exports falling faster than their production, as they use more internally. The same is true in Saudi Arabia. Oil prices are not coming back, and 2008 is the year we realize this is true. [I recorded the video on Dec. 21, 2007- and oil hit $100 on 1/2/208.] [...]

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