{"id":170423,"date":"2010-01-12T13:45:00","date_gmt":"2010-01-12T18:45:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/cnbcs-kilduff-oil-will-hit-100-in-the-next-six-months-2010-1"},"modified":"2010-01-12T13:45:00","modified_gmt":"2010-01-12T18:45:00","slug":"john-kilduff-oil-to-100-in-the-next-six-months","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/170423","title":{"rendered":"John Kilduff: Oil To $100 In The Next Six Months"},"content":{"rendered":"

\"Kudlow<\/p>\n

Last week, we reported that former CIBC World Markets Inc. chief economist, Jeff Rubin had predicted the price of oil to reach $100<\/a> by the end of 2010. <\/p>\n

On Monday, CNBC contributor John Kilduff sliced Rubin’s prediction in half, claiming that oil will hit $100 a barrel in the next six months, thanks in part to a humming Chinese economy, Business And Media reports<\/a>.<\/p>\n

When Kudlow asked whether the U.S. should look to windmills in the Nantucket sound to provide a new power source, Kilduff stated he opposes the idea, and mentioned a huge oil discovery in the Gulf of Mexico<\/a> Tuesday morning.<\/p>\n

And he underscored the fact that he does not believe in peak oil<\/a>. The necessary technology to prove the theory, he said, did not exist when the idea was conceived.<\/p>\n

<\/p>\n

Peak oil is a theory that there exists a point in time when the maximum rate of global petroleum extraction is reached. However, <\/span>a recent BusinessWeek article<\/span><\/a> disputed this theory and Kilduff explained that when this idea was conceived, there wasn’t the technology to confirm such a theory.<\/span><\/p>\n

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