National Energy Board Chair Peter Watson is forecasting oil prices will rise within the next four years.
Watson says oil prices are expected to rise to 80-dollars a barrel by 2020 and another 105-dollars a barrel by 2040.
He says the NEB also has a low case projection of 50-dollars a barrel by 2020 and 80-dollars a barrel by 2040
Watson says their oil price forecast is very similar to what both the U.S. Energy Information Administration and the International Energy Agency are forecasting in regards to oil prices.