Triple Digit Crude Oil Prices Predicted for Long-Term

from Forbes.com:

Jeffrey Rubin, chief economist of Canadian investment bank CIBC World Markets, said Tuesday
that "rising demand within oil-rich nations such as Mexico, Venezuela and Saudi Arabia will put pressure on global oil prices in the coming years. That, combined with the increased cost of pulling petroleum from reserves deep under the sea or wringing it out of oil sands in Canada, will keep oil prices high even if demand in the Western world remains constant."

"Triple digit prices is not a spike," he said. "Triple digit oil prices is what is going to be required to maintain, let alone grow, world oil supplies."

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