Energy Security

[Ulenspiegel]

There is some market analysis against peak oil and persistent high gas prices. Essentially, we are experiecing a global oil price bubble (and it isn't the first). Also, this article suggests that increased US oil production is not necessarily the most effective strategy for escaping foreign oil dependence or high oil prices.

We have a stagnating global production since 2005, OTOH the demand of India and China, which buy more despite increasing prices, increased, the domestic consumption in most producing countries increased.

How do you really expect a falling price? This is only possible if you substitute or save crude at a rate of more than 3% p.a.
That would be a lot and requires huge effords (industrial programmes), which I do not see in the USA.

Here a new contribution on the econbrowser:

http://www.econbrowser.com/archives/...ing_irans.html