The Oil Shortage Hoax « Observations

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The Oil Shortage Hoax

There was a staggeringly important article on the front page of the Wall Street Journal on Tuesday. Briefly, it said that the immense run up in oil prices in 2008, from roughly $33 a barrel to roughly $150 per barrel was not caused by an oil shortage, was not caused by an immense upsurge in demand from China and India and Brazil, not caused by bandits in Nigeria. More...

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