It takes a lot of time, but you know what? I believe in the power of prices. I think you’re going to see economic behaviour change radically, and change very quickly, when people are confronted with the economic consequences of triple digit oil prices.-Jeff Rubin
Triple digit oil prices can lead to a lot of changes simply because we will no longer be afforded the luxury of being able to live the way we have, and certainly not being able to afford the luxury of having a global economy, because that’s just simply not going to make any economic sense.
See the full interview from Halifax's "The Coast" website.
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