The Oil Bubble: Set to Burst?

From the braintrust of political intellegence…the National Review’s take on rising Oil prices.

Read and fire away…
—————————————–
“Oil prices have soared from $32 a barrel at the beginning of the year to an all-time high of $50 a barrel at the end of September largely on the fear of supply outages stemming from terrorism and a series of odd events. Interestingly, virtually every fear so far has gone unrealized.”
Oil prices have soared from $32 a barrel at the beginning of the year to an all-time high of $50 a barrel at the end of September largely on the fear of supply outages stemming from terrorism and a series of odd events. Interestingly, virtually every fear so far has gone unrealized.

Terrorism has not removed a single barrel of oil production. Oil output in Saudi Arabia, instead of falling due to terrorism as some have feared, has increased by more than 1 million barrels a day this year. OPEC has steadily increased production