Is $300 For A Barrel Of Oil Possible?

Bloomberg: Oil Hedge Fund Manager Says $300 Oil ‘Not Impossible’

* Andurand says on Twitter lack of investment risks price spike
* Higher prices aren’t a threat to the economy, Andurand says

Pierre Andurand, one of oil’s most prominent hedge fund managers, said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years.

Andurand, who’s often espoused bullish views, said in a series of tweets on Sunday that concern about the impact of electric vehicles on future demand was limiting investment in projects with long lead times.

"So paradoxically these peak demand fears might bring the largest supply shock ever," he wrote. "If oil prices do not rise fast enough, $300 oil in a few years is not impossible."

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WNU Editor: Today's price for a liter of gas in Montreal (where I live) is $1.48 per liter .... or about $236 (Can.) per barrel. So we are getting there. On a side note (for Canadians) ... had the joy of listening yesterday to our environment minister talk about how high taxes on the price of carbon is the reason why the Canadian economy is booming?!?!? Using that logic .... I say why don't we then raise the price of a liter of gas to $2.00 .... or better still .... $3.00/liter .... because afterall, with this type of thinking our economy would then be really booming.