WITH THE DOLLAR SLIDING and commodities on the rise despite lingering economic malaise, it's not surprising to see oil marking a year high at just over $78 a barrel.
But further increases in the price of oil could eventually spell long-term pain for the commodity, suggests Paul Sankey, Deutsche Bank's top analyst covering major integrated exploration-and-production firms.
Last week, Sankey published a magnum opus heralding "the end of the age of oil." Sankey forecasts that oil could hit $175 a barrel in 2016. And this high price would cause a massive shift in the transportation sector away from black gold .
But further increases in the price of oil could eventually spell long-term pain for the commodity, suggests Paul Sankey, Deutsche Bank's top analyst covering major integrated exploration-and-production firms.
Last week, Sankey published a magnum opus heralding "the end of the age of oil." Sankey forecasts that oil could hit $175 a barrel in 2016. And this high price would cause a massive shift in the transportation sector away from black gold .
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