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Page added on October 29, 2004

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$200 Oil? It Could Be Asia’s Gift to World: William Pesek Jr.

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“The fundamentals, long term, of the oil market are very compelling, extremely compelling,” he explains. “I wouldn’t be surprised to see $100 or $200 (for a barrel of) oil in the next five to 10 years. It’s not a projection. It’s that I wouldn’t be surprised.”


The bad news, of course, is that Asia’s rising demand for oil may outpace the world’s ability to meet it or find alternative energy sources. If so, $200 oil could just be Asia’s gift to the world in coming years.

Bloomberg



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