Jeff Rubin, the former Chief Economist of CIBC World Markets and the author of Why Your World Is About To Get A Whole Lot Smaller built his reputation as one of Canada’s top economists based on a number of successful predictions including the housing bust of the early 90s and the rise of oil prices. In his recent book, Mr. Rubin predicts $225 per barrel oil by 2012 and with it the end of globalization, a movement towards local sourcing and a need for massive scaling up of energy efficiency.
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Electricity prices could be decoupled from gas prices by changing how the market works, but ideas for doing so either have not been tested or have problems of their own. In an age of cheap renewables, cutting fossil fuel use, not scrapping market rules, is key to breaking the link.
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