Skyrocketing Oil: You Ain’t Seen Nothing Yet

clipped from blogs.wsj.com Is Venezuelan president Hugo Chavez about to get his wish—is the world really headed for $200 oil? Make that $225 in 2012, says CIBC World Markets, a Canadian broker, in a new report arguing that “world oil markets will remain as tight over the next five years as they have over the last two years.” The main explanation? Fundamentals, not commodity speculators, the report says.