Thursday, November 06, 2008

EIA Predicts $100 oil

The Energy Information Agency predicts that oil till get back to $100/barrel soon and soar to $200/ barrel by 2030. With [1] peak oil, [2] demand from China & India, and [3] significant efforts to cut carbon emissions, I suspect $200 / barrel will be reached far sooner and we will see even $500/barrel. If for no other reason, due to the $1 trillion in bailouts this country has spent / will spend in the next few months. Why? This will drive down the value of the dollar (even though it is firming in today's economic climate), which will drive up the price of gas. This of course, will be good for renewable energy and renewable energy technologies.



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