Mike McKee, a Director of KPMG Corporate Finance's Energy and Natural Resources Team, quoted in CNNMoney.com

August 7, 2007

In the August 7, 2007 edition of CNNMoney.com, KPMG Corporate Finance had an opportunity to contribute to Steve Hargreaves article, "Why oil won't hit $100. New production, new energy sources and some conservation could push down prices by 2010 - but don't expect $20 a barrel anytime soon."

Mike McKee a Director of the Energy and Natural Resources Team, was interviewed with respect to his thoughts on whether the price of oil will substantially decrease.

Steve Hargreave writes: "But while the possibility of $100 seems to be fading fast, some analysts are predicting oil will remain close to current prices."

"Several recent forecasts, including those from such groups as the IEA (International Energy Agency) and the Economist Intelligence Unit, are in stark opposition to any forecast of a price drop," Mike McKee, a director with KPMG Corporate Finance, said via e-mail. "They see demand-driven strength in prices through the next 4-5 years, as the industrializing world is taking up an increasingly large portion of worldwide production." 

Read story in it entirety: http://money.cnn.com/2007/08/07/news/economy/cheap_oil/index.htm?postversion=2007080713

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