Peak Oil & $225 Oil by 2012 Predicts CIBC Economist Jeff Rubin

Be sure to check out Jeff Rubin's other interviews: http://www.youtube.com/watch?v=f63zl9vBkc8

Jeff Rubin is a Canadian economist and author. During a stellar career with CIBC World Markets he made a name for himself with prescient predictions. He has a knack for generating controversy, being mocked by peers only to be proven correct as history unfolds.

Jeff was born in 1954, and after receiving his B.A. from University of Toronto and his Master's from McGill, both in Economics, Jeff began his career with the Ontario Treasury Department. There he projected future interest rates.

In 1988 he switched to the private sector, joining a brokerage firm then known as Wood Gundy. The Canadian Imperial Bank of Commerce took over Wood Gundy, renaming it CIBC Wood Gundy and later CIBC World Markets. Jeff worked his way up the ranks there and became the Chief Economist after just four years with the company. He worked in that role from 1992 until 2009.

During that tenure Jeff left a trail of accurate predictions. He correctly predicted fluctuations in interest rates and the value of the Canadian dollar. He first gained fame in 1989 when he predicted a 25 per cent decline in Toronto real estate prices, and a subsequent serious decline in Ontario's entire real estate market.

Jeff was also one of the first economists to accurately predict soaring oil prices in 2000. At that time, Jeff said that oil prices would hit $50 (U.S.) a barrel within five years. Although other economists balked, time proved him correct.

Jeff's track record has garnered national headlines and raised key financial concerns for a national and international audience. Large fund managers in North America, Europe and the Far East have been wise enough to heed Jeff's words of wisdom.

In 2009, Jeff resigned from CIBC World Markets to focus on writing and public speaking. He authored the best selling 2009 book Why Your World Is About to Get a Whole Lot Smaller: Oil and the End of Globalization. He forecasts that the price of oil will reach $225 a barrel by 2012, thanks to increasing demand and decreasing affordable supply. Jeff says that without affordable oil, the world will be forced to de-globalize and re-discover local, autonomous economies.

His name has since persisted in headlines, and he is known as a dynamic and engaging speaker, always controversial and fresh-minded. Jeff believes the new world will be more local and less global, with a reinvigoration of local cultures and customs.

Jeff has also written popular columns and commentary for the Globe and Mail (a regular column called "Ahead of the Curve"), the New York Times, the Wall Street Journal, Washington Post, USA Today, Financial Times, BusinessWeek, Newsweek and The Economist. He makes regular radio and television appearances on CBC, ABC, CBS, CNN and CNBC.

Jeff has been named Canada's top economist 10 times, and has had 10 number one rankings by international economists, such as in the Brendan Woods annual survey.

Jeff lives with his wife, children and dog in Toronto. He is also an avid fisherman who enjoys a good fishing analogy.

Video Source: http://youtube.com/watch?v=wYuLjGQQ-jg

Biography Source: http://www.thegreeninterview.com/jeff-rubin-bio

Climate Change: http://wwf.ca

WWF's mission is to stop the degradation of the planet's natural environment and to build a future in which humans live in harmony with nature.

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[0r14n583lt]

Peak Oil is happening all around us. We are just so focused on our own lives and other distractions that we don't notice the big picture.

[TurnKeyOil]

@0r14n583lt I think the important thing to remember about peak oil is that we are not running out of oil (at least not yet) but that we are ALREADY out of cheap oil. We have to count on deep sea and oil sands among other methods to supply the future energy costs.

[420txgrl]

Man, that peak oil will "bring jobs home" is true in the sense that a corpse brings home jobs... for scavengers.

[TurnKeyOil]

@420txgrl The key to a strong US economy is strong energy independence and focusing on building that independence through investing in US oil & gas production. Obama and associates seem to be focusing on ways to do this with the election year upon us. Thoughts?

[twilight8181]

7 dollars a gallon?? we already pay over £5 a gallon in the uk which equals over $7. if the yanks had to pay that now they might use it a bit more responsibility.

[TurnKeyOil]

@twilight8181 higher prices do encourage energy responsibility but with the rate of emerging economies and the minimal impact of renewable energy and nuclear climate prices are likely to continue to climb steadily or so it seems. Thoughts?

[Scaramangagg]

This guy has the best voice.

[LinuxLinense]

@0r14n583lt  +1

[kessass83]

@twilight8181 Ya. But if you haven't lived in US you don't know what does it means. The distance to commute, the real estate price near city center and preferential for suburbs, and the last the lack of public transportation in major cities.

[TheMarkbarron]

Well here it is 2012 and i only see $105 /barrel gas not 225. Problem with this video from a global elitist is that it is full of half lies. His point of carbon taxes will never work since US and China will never sign on to it and they are the 2 biggest economies, unless u have a one world government. And we can see how good that idea is working in the EU with the example of the PIGS

[LightReuse]

twilight8181. Americans get China & Arabs to give them the goods, sweet. Tying every nation to US dollar, pretty damn slick. Making China, Arabs, etc dependent on American market, brilliant. It doesn't matter that technically oil does not run out because for all intents & purposes oil is in the process of running out for the world. YoY approx. 10% decline as of Jan 2012 in US gasoline usage because of economy. But usage must be curtailed even more, hence closing of refineries.

[LightReuse]

Rationing in US begins not by telling public rationing is here & causing panic, but simply by closing refineries. 3 refinery closings in PA by July 2012 will cut over 50% of US East Coast refining capacity. Plus a 495k bpd in St Croix is closing, a major supplier to EC. Adjustable Rate Mortgages DID trigger financial crisis via derivatives tied to ARMs. Why implode ARMs by hiking Fed rate to 5.25%? Peak oil hit so global economy had to be sabotaged. World War 3 over oil is a certainty.

[twilight8181]

@Soneenee because you americans know what your doing when it come to economics. what is it now 32 states bankrupt 14 trillion in debt. and an economy proped up by chinese money and arab oil.

[elbubavideo]

Dominican Republic $5.50 US dollars a Gallon.

[Soneenee]

@MrAppleseed88 you are an idiot

[Soneenee]

@roboeco Europeans believe all those bullshit.

[Soneenee]

@twilight8181, you Europeans are a bunch of gullible stupid idiots, you know nothing about economics, you pay more for everything that's your worthless continent is bankrupt.