In June, a couple of Dutch energy researchers released a fascinating, long-gestating report on high oil prices. At the time, oil was selling for about $130 a barrel, and the authors, neatly dissecting the market, argued that prices were only going to get worse. Just the next month, they did rise -- to $147 a barrel.
But, as O and G readers know, there was good reason to argue the other way at least in the short term –
But if in the next two or three years we come out of recession in fair economic shape , look for another steep rise in oil and gasoline prices.
Fatih Birol , chief economist at the International Energy Agency , has been arguing the same point while making the rounds last week and this week in Washington and elsewhere. He's been explaining the IEA's latest World Energy Outlook , which is just as bleak as Jesse's paper. Jesse wrote the paper with Coby van der Lind y motivate oil producers to floo
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