breitbart.com: Oil prices to double by 2012: Canadian study
Apr 24 03:05 PM US/Eastern
The price of oil is likely to hit 150 dollars (Canadian, US) a barrel by 2010 and soar to 225 dollars a barrel by 2012 as supply becomes increasingly tight, a Canadian bank said Thursday.
The CIBC report says the International Energy Agency’s current oil production estimates overstate supply by about nine percent, since it wrongly counts natural gas liquids — which are not viable for transportation fuel — in its numbers.