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Falling fossil fuel prices and global consumption will take a toll on Canada’s stock market, warns Jeff Rubin, an economist who once predicted oil prices would rise to about US$200 per barrel. Now he says investors who want to limit the impact on their portfolios need to sell their energy stocks.
Rubin, a senior fellow at Canada’s Centre for International Governance Innovation, is perhaps best known for his 2008 prediction that oil prices would rise to US$225 per barrel by 2012. Today, the economist is researching how climate change and trends in global energy consumption will impact Canada’s economy.
“If we are...