A fascinating article and concept heading the Globe & Mail's GlobeInvestor website today features Jeff Rubin, former CIBC economist, who has written a book about a very interesting theory regarding oil. The basic premise is that skyrocketing oil will reverse globalization causing the current economy to be turned on it's ear. He predicts $200 oil by 2012 or earlier.
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"I think it will really restructure the economy in ways that people haven't even begun to imagine," he said. "But I think, ironically, it's going to be a return to the past ... in terms of the re-emergence of local economies."