$100 oil by 2008? Maybe not

The price of oil may well rise in the next three years and it might even reach the $100 per barrel for a brief period. But this will most likely be caused by strong global demand or an unexpected geo-political crisis in the Middle East rather than by a decline in exports under the circumstances that Jeff Rubin has described.

Immunize yourself against future hype

A breakthrough in oil & gas industry technology is not inevitable. Indeed, it is not very likely. Painstaking linear growth in technological advances permit more oil to be recovered each year, but Seidensticker’s myths about technology change apply to the oil & gas industry just as they apply to most human endeavors.