High Energy Prices are here to stay – Marshall Auerback

Concern that rising oil prices could harm the global economy dominated weekend meetings of world finance ministers and central bankers who gathered after Wall Street plunged to new lows for 2005. There were intense talks about the energy situation at both the meetings of the Group of Seven major industrialized countries and the policy-making committee of the 184-nation International Monetary Fund last Saturday.

But is this yet another case of policy makers closing the barn door after the horse has bolted?

So has oil put in a conclusive top? Is all of this market chatter about