The Greens would have us believe that the price of oil is destined to climb indefinitely.
Maksimovich at Outsidethecube posts and interesting article that claims the opposite is far more likely.
Lord Browne, the chief executive of energy giant BP, has predicted that the price of oil could drop as low as US$25 a barrel, in direct contrast to a market that sees prices remaining sky-high.
The long-standing leader of BP, the world’s second largest oil company, said that while prices will not moderate in the near term, within five years, Lord Browne of Madingley saw oil coming down to US$40. In about a decade, he predicted the price could be as low as US$25.