18.03.2013 - Why oil prices will hover at $120 for next decade
The commodity super-­cycle in which commodity prices reach ever-higher highs and fall only to higher lows is not over. Despite the euphoria around shale gas — indeed, despite weak global growth — commodity prices have risen as much as 150 percent in the aftermath of the financial crisis. In the medium term, this trend will continue to pose an inflation risk and undermine living standards worldwide. For starters, there is the convergence argument. As China grows, its increasing size, wealth and urbanization will continue to stoke demand for energy, grains, minerals and other resources...............................................Full Article: Source
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