Hirsh: World Faces Devastating Energy Wars – Newsweek Politics

What does all this geostrategic strutting have to do with soaring prices at the gas pump? For one thing, the uncertainty created by Iran, Iraq and Venezuela has added a $10-$20 risk premium to the price of oil per barrel, according to Wall Street analysts. The politics of energy also doesn’t bode well for future prices, as U.S. Secretary of Energy Sam Bodman seemed to suggest last weekend when he said Americans might have to get used to paying $3-plus per gallon for gasoline.

Today, oil and gas experts around the world are growing alarmed not just at future scarcity
Newsweek