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Seeking Alpha: Why $100+ Oil is Here to Stay

posted on: February 26, 2008

Donald Dony: Bio & more articles

Over the last year, as oil has advanced from US $50 to $100, there have been countless academic papers on why the world’s most heavily traded commodity will likely not increase much above US $70 to $80. The main rationale? Alternative energy sources (e.g., coal, biofuels, wind, solar and uranium) will fill the gap and keep oil at a more comfortable level well below the infamous US $100 mark. While these resources can and will provide a slight buffer against the tsunami of global energy demand, our global economies are still too highly attached to fossil fuels and are not expected to shift soon.

The simple factors of world demand over current and predicted supply clearly demonstrate why oil will not be retreating in price but can be expected to continue its upward path well into the next decade.

For the full article with charts go to…

http://seekingalpha.com/article/66093-why-100-oil-is-here-to-stay?source=d_email

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