Weekend Edition: $100 Oil Imminent

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.

Economic roundup:

China hikes reserve requirements again

World Bank: China To Drive Asian Growth

Record Food Prices Could Trigger Riots, Protectionism

US Jobless Claims Rose More Than Forecast to 445,000 Last Week

China’s 2010 Auto Sales Top 18m Units

Weekly blog roundup:

Invest it Wisely: Going Carless: Does It Make Sense?

Dividend Monk: 6 Noteworthy Stocks with Yields Over 4%

Barbara Friedberg PF: INVEST IN BONDS NOW-at Your Own Peril

The Passive Income Earner: Do you want to know what investments make it into my RRSP account and why?

My Own Advisor: 2011 Personal Finance Goals

Canadian Finance Blog: What Is A Price To Book Ratio (P/B Ratio)

DIY Investor: What is a P/E ratio?

Boomer and Echo: RRSP And TFSA Portfolio Update

Money Smarts Blog: What Age Can You Open a TFSA?

101 Centavos Portolio Update and Allocation Strategy

Everyday Tips and Thoughts: The Snowball of Savings and Health Benefits From Eliminating Pop/Soda

Money Reasons: Is The Roth IRA In Danger?

Balance Junkie: 2011 What to Watch

Buck Inspire: Note to Newbies

Budgeting in The Fun Stuff: The Risks In Business – Do You Have What It Takes To Run A Business?

Enjoy the Weekend!