The Business of Climate Change Conference 2009
The following speech, despite the fact that it was given at a "climate change" conference, contains some very interesting information about how the Saudis use their own oil. This is what I wish to draw to your attention in this video...
Jeff Rubin, the former Chief Economist of CIBC World Markets and the author of Why Your World Is About To Get A Whole Lot Smaller built his reputation as one of Canada's top economists based on a number of successful predictions including the housing bust of the early 90s and the rise of oil prices. In his recent book, Mr. Rubin predicts $225 per barrel oil by 2012 and with it the end of globalization, a movement towards local sourcing and a need for massive scaling up of energy efficiency.