Why oil won’t hit $100

New production, new energy sources and some conservation could push down prices by 2010 – but don’t expect $20 a barrel anytime soon.

NEW YORK (CNNMoney.com) — Despite oil’s record high last week, forget about crude going to $100 a barrel.

Prices have already dropped about 7 percent since last week, and are likely to fall even more in the coming years.


That’s the consensus of analysts, who say rising production, the advent of biofuels, and conservation measures will likely lead to lower oil prices by 2015.

But how much lower is subject to wide interpretations, and estimates rage from $20 to $60 a barrel.

CNNMoney.com