Crude Oil Is Going to 150-200 Dollars

I think you are going to see 150 to 200 dollars oil, maybe even this year. Certainly by 2015, 2016. I think that if we successfully alienate  Russia and we see more Russian oil going to China, meaning that Europe and the U.S. will become even more reliant on the unstable supplies coming out of the middle east as we drive all this Russian oil into China.

Russia is the biggest oil exporter. They export more oil than Saudi Arabia. Prices are going to go even higher for us and so domestic oil in the U.S. is going to be a lot more valuable.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.