- Gerald Bailey says events in Middle East and Venezuela may push oil prices higher
- Two years ago, Bailey accurately predicted the start of an upward oil price trend
- Petroteq’s unique technology can extract oil from sand at a cost of $25 per barrel
The director and president of Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) has said that oil prices could reach $80 per barrel this year and rise further up to $100 in the near future. Dr. R. Gerald Bailey was appearing in an interview with Fox Business on May 23, two years after he made another prediction of oil price trends, which proved to be accurate (http://nnw.fm/7fjKK).
Bailey told Stuart Varney on Varney & Co. that prices could reach $80 a barrel this year and go higher still. “Let’s not frighten people and think it’s going to be $100, but don’t be surprised. It reached that two and a half, three years ago, so it’s not out of the picture,” he said…
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