Welcome to the weekend edition, a small collection of links to interesting personal finance related articles and economic news from around the web.
Can the global economy handle $100 oil? The answer would be “Yes it can” according to Kuwait’s Oil minister. The oil ministers of Iraq and Libya also think it’s a fair price while Qatar’s minister does not expect OPEC to increase its production at all in 2011. There’s still hope their stance might change during their next meeting in June.
In fact, Brent Spot is above $98 a barrel while Numex Crude is around $91.50. It looks like $100 oil will be a reality in the first half of 2011 bar any black swan economic events. Start getting used to what you’re paying at the pump right now and prepare yourselves psychologically for higher prices during the year.
If you are looking towards renewable energies as the solution to our reliance on fossil fuels, don’t put your hopes too high. According to Andrei Kapista, a member of the Russian Academy of Sciences, there is no good substitute today for hydrocarbons and nuclear energy. For him, thermonuclear fusion will be our savior; the problem is it will take decades to master this technology.
World Bank: China To Drive Asian Growth
Record Food Prices Could Trigger Riots, Protectionism
Weekly blog roundup:
Boomer and Echo: RRSP And TFSA Portfolio Update
101 Centavos Portolio Update and Allocation Strategy
Enjoy the Weekend!