The International Energy Association, in its Energy Outlook 2010, predicts crude prices will rise steadily and could go as high as $161/barrel by 2015, $250 by 2025, $350 by 2035.
IEA is as mainstream as you can get. There are correct about the price hikes, but given the inflation that is likely ahead, It won't take 2015, 2025 and 2035. It will occur in 2012, first half 2013 and second half 2013.
(ViaAlexSteffen)
Wenzel:
ReplyDeleteDo you realize how dangerous you are?
Every time you cite a product or product class in refutation of Krugman - it gets removed from the CPI.
You are thusly (albeit gradually) 'proving' Krugman!