Roubini sees $150 per barrel oil with very real chance of a double dip recession

Via Forbes
“Oil price shocks have led to US recessions in 1974-75, 1980, 1990, 2001 and 2008-2009. 3 of these were caused by Mid East political shocks,” notoriously bearish economist Nouriel Roubini wrote on his Twitter account at the end of February.

Last Wednesday, he made another bold prediction: “If troubles spread to other countries such as Bahrain and Saudi Arabia, this could push oil prices up to $140 to $150 per barrel, which could trigger a double-dip recession in the periphery of Europe and the U.K.”


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