$100 OIL

Here is an excerpt from an well written BBC article, regarding oil going to $100:

'Unsustainable'
And Mr Aiyar's view is broadly in line with the latest projections from the International Energy Agency (IEA).

Bill Gammell says the era of cheap oil is overIt forecasts that the world's total energy requirements will rise by half in the next 25 years.

The IEA candidly admits that such an increase would be "unsustainable" for the world's environment. It argues that in future much greater use will have to be made of non-fossil fuels.
And energy will have to be consumed much more efficiently.

But at present global demand for energy in general - and oil in particular - is rising inexorably. With supply struggling to keep pace with demand, oil prices are likely to remain high for years to come, according to leading figures in the industry.

'$100-a-barrel oil'
Sir Bill Gammell is the chief executive of Cairn Energy. He's a former Scottish rugby international who went to school with Tony Blair and knew George Bush when he was just a young Texas oil man with a famous father.

I think we might see $100 oil in the next five years

Sir Bill Gammell, Cairn Energy
Sir Bill's company was exploring for oil through the lean years of the 90s when the price of a barrel of crude was hovering around $20 a barrel.
Today the price is close to $60, and Sir Bill thinks it may go higher because supplies can barely keep pace with demand.

"I think we might see $100 oil in the next five years" says Sir Bill. "We won't see $20 again."