The Fortunate Fifth

…The oil world seems to have learned how to get along with the prospect of war with Iran, which is to say that it is choosing to ignore it. The Bush surge in Iraq with the prospect of fresh and heavy fighting is old news. The news that Mexican production fell half a million barrels a day last year caused not a ripple. The shutdown of most of Nigeria

The fact that Iran on current trends is set to become an oil importer in six or seven years causes not the least anxiety. The world