Jeff Rubin pegs oil at US$150 within five years

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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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cameron07

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Jeff Rubin pegs oil at US$150 within five years

posted on Jan 11, 2008 03:55PM

Great to see CLL is on schedule/budget as oil prices moves upwards...

http://www.nationalpost.com/story.html?id=230926

Jeff Rubin pegs oil at US$150 within five years

Boon For Canada

Jon Harding, National Post Published: Friday, January 11, 2008

CALGARY - Jeff Rubin has hit the bull's eye twice this decade with aggressive long-term oil-price forecasts, and if his latest prediction proves correct -- oil at US$150 a barrel by 2012 --Canada will become a global oil superpower thanks to Alberta's oilsands.

In a report yesterday, Mr. Rubin, chief economist at CIBC World Markets, said world oil supplies cannot keep pace with the accelerating rate at which existing fields are being depleted.

The bank's investment arm studied the world's 200 largest new oil projects, including those in the oilsands, and concluded output from many will be slowed in the next four years by protracted delays and cost overruns

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