Jeffrey Rubin, chief economist of Canadian investment bank CIBC World Markets, said today that oil prices could top $100 a barrel by the end of next year and remain above that point for years to come. That's right- $100 a barrel!Watching oil prices skyrocket over the last few years got me to thinking about a nifty little exchange that took place in the Bush-Gore debate at Wake Foerst back in 2000. Bush talked about the high energy prices at the time (around $27.00 a barrel) and his plans to turn this around. He stated, and I quote:
“I would work with our friends in OPEC to convince them to open up the spigot, to increase the supply. Use the capital that my administration will earn, with the Kuwaitis or the Saudis, and convince them to open up the spigot.”
Fine job, George!
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