Jeff Rubin, the former chief analyst and economist with CIBC, is about to launch his new book this coming weekend, titled, “Why Your World Is About To Get A Whole Lot Smaller.” Rubin is a firm believer in the theory of “Peak Oil”. He writes that it’s coming sooner than most people would believe, or realize.
Rubin predicts that noticeable declines in oil production may come within the next three years, or even sooner. Oil shortages will develop throughout the world and oil prices will surge beyond $200/bbl. He states that the days of cheap oil are over and will never return again.
The author and economist bases his predictions on facts he has gathered. Most of these have been revealed and substantiated by large oil companies and well experienced oil people. New oil reservoirs are few and very costly to develop. Future oil supplies will become more dependant on the Canadian oil sands.
Jeff Rubin predicts that high oil prices will dramatically change the industrialized world. Increased transportation costs will make distant manufactured goods unaffordable. Manufacturing jobs will once again return to parts of North America. Locally produced and manufactured products will definitely have a big cost advantage.