Vive Le Canada

Global economy to get 'shock of its life' when oil hits triple digits
Date: Monday, July 06 2009

Energy expert and former CIBC economist Jeff Rubin says global economy will get the "shock of its life" within 12 months of the end of the recession when oil prices hit triple digits and the age of globalization starts to come to an end.

The former maverick chief economist for CIBC's World Markets for about 20 years and author of the new book Why Your World Is About To Get A Whole Lot Smaller: Oil and the End of Globalization, says demand for oil will outstrip supply, food prices will soar, and countries will be shocked into growing their own food, manufacturing their own products, and paying a lot money more for everything.

This article comes from Vive Le Canada

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