Price of oil will keep going up, expert says

FORT WORTH – Conventional wisdom that oil prices would decline this year “has been proved wrong” and recent $40-plus prices are likely to be a new plateau, an industry veteran said Wednesday at Texas Christian University.
Houston energy banker Matthew Simmons, whose company has worked more than 500 energy deals since its founding in 1974, said at a breakfast meeting at the M.J. Neeley School of Business that world demand will require an extra 4.3 million barrels of oil within 15 months, and that “nobody knows how we’ll even come close to meeting that.”

Ft. Worth Star-Telegram