Will high oil prices permanently cap economic growth?

The answer to this question is positive, Jeff Rubin said to Bloomberg past week. “For most of the last century, cheap oil powered global economic growth. But in the last decade, the price of oil has quadrupled, and that shift will permanently shackle the growth potential of the world’s economies.”

See also our recent posts on Peak Cheap Oil: Peak Cheap Oil: Cantarell hits record low, Oil futures rise, Peak Cheap Oil.