"A fundamental imbalance between supply and demand growth."

CIBC World Markets Chief Economist Jeff Rubin and Banc of America Securities Oil and Gas Analyst Bob Morris debate the possibilities of $80+ oil.

CNBC Video: CIBC's Rubin & BoA's Morris.

Jeff Rubin has been a quite bullish on oil for the last few years, for reference see 'CIBC', and 'CIBC: Conventional oil seems to have peaked in 2004.'