http://www.bnnbloomberg.ca/energy-crisis-ahead-nuttall-makes-case-for-100-oil-1.1631926
"...The demand for oil will grow for at least the next ten years, and yet the fear of peak demand by some, is leading to the reality of peak supply.” said Nuttall. “In terms of the oil price this is a good level to allow OPEC to gradually bring on oil production and to get closer to the exhaustion of their spare capacity by some time next year.”
Nuttall’s bull case for crude prices is based off global super majors like BP Plc and Royal Dutch Shell Plc leaning into renewables, OPEC’s reluctance to drastically boost production, as well as projections that U.S. shale production growth will remain tempered.
“I think we’re entering into an energy crisis in the years ahead, that will result in meaningfully higher oil prices and meaningfully higher oil stock prices as well.” said Nuttall.
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