Daniel Yergin on oil: Expect $60 to $100 a barrel

If anyone should know about the outlook for oil, it would be Daniel Yergin. He’s the Pulitzer Prize-winning author of The Prize, a marvelously documented history of the oil industry that frames the origins of OPEC.

Yergin was interviewed on a Bloomberg radio program this week. Here are excerpts:

–Oil demand: “We think the industrial world actually peaked out in terms of its oil demand in 2005.”

–On the world economy: “We will have a slight rebound coming out of the recession but basically in a flat declining situation which can track very strongly with what is happening in Asia.”

Kansas City Star