Dr. Loren Scott readily admits that his recently released Louisiana Economic Outlook makes assumptions about the future. If his gaze into the crystal ball turns out to be wrong, it could affect everything from the rate of growth to capital investment, he told The Shreveport Bossier Advocate on Friday.
“The war continuing to go on will be a real problem,” he said, referencing the war in Iran, which his Outlook assumes will be over by the upcoming midterm elections.
Because of the drawdown of the Strategic Petroleum Reserves, if the war continues, “Somewhere along the line, you’re going to start to run out, and when you run out, people think oil prices are high now. They haven’t seen anything.” “I think it (oil) could easily get up to $200 a barrel. I don’t think we’ve ever seen that before, but I think it could easily get to that,” he told The SBC Advocate.
On the flip side, he said, don’t underestimate human ingenuity…