After nearly 20 years as the chief economist of CIBC World Markets, Jeff Rubin recently left the bank to seek a larger audience for the story he wanted to tell.
His predictions of steadily rising oil prices over the last decade, including $100 (U.S.) per barrel oil by 2007, had flown in the face of conventional economic wisdom. Soaring oil prices demonstrated that the traditional laws of supply and demand were no longer working for one of the global economy's most basic and essential commodities.
The consequences would be severe. He argued that it wasn't sub-prime mortgages, but record oil prices that drove the world economy into its deepest post-war recession. And unless the economy starts to wean itself off an ever depleting supply of affordable oil, he believes there will be other recessions to follow as economic recoveries quickly push oil prices right back into triple digit range. But weaning our economy off oil means some fundamental changes in the way we live.
Join us for a live one-hour discussion with Mr. Rubin Wednesday at 1 p.m. (ET). Ask him his latest thoughts on oil, the economy and what it all means for investors.
<p></p> <p></p> <p> <i>(Jeff Rubin is an author and former chief economist of CIBC World Markets. His second book, <a href="http://www.randomhouse.ca/catalog/display.pperl?isbn=9780307360892&view=print" target="_blank">“The End of Growth”,</a> comes out this week) </i> </p>