Economist predicts $1.50 a litre for gasoline

CIBC’s Jeff Rubin says crude will hit $150 U.S. a barrel within 4 years

Maverick economist Jeff Rubin, who is at the top of his game these days, says Canadians shouldn’t be surprised to see gasoline at $1.50 a litre and oil at $150 (U.S.) a barrel within the next four years


And this, according to a CIBC report released yesterday, doesn’t even account for the unpredictable: escalating geopolitical tensions and extreme weather events.

“What we don’t appreciate is that the oil-sands delays (we’ve seen) are not a unique story. It’s happening in the very fields where the world is expecting to get its future supply,” Rubin told the Toronto Star.

“Don’t think of today’s prices as a spike. Don’t think of them as a temporary aberration. Think of them as the beginning of a new era.”

Toronto Star