Whatever Happens in Egypt, Oil Will Hit $300 by 2020

The oil market breathed a small sigh of relief Friday after Hosni Mubarak resigned as president of Egypt, sending prices to a 10-week low. But Charles T. Maxwell, an analyst who's been toiling in the energy business since 1957, all but shrugged off the toppling of the dictator. He's sticking with a bold prediction: Prices will climb to $300 a barrel in 2020, or about $225 in today's dollars. The world simply won't have enough oil to meet demand, he says. Barron's interviewed Maxwell, 79 years old, by telephone from the Greenwich, Conn., offices of Weeden & Co.

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