It is about time we are reading this

Is The World About To Be Running On Empty?

In France, fishermen are blockading oil refineries. In Britain, lorry drivers are planning a day of action. In the US, the car maker Ford is to cut production of gas-guzzling sports utility vehicles and airlines are jacking up ticket prices. Global concerns about fuel prices are reaching fever pitch and the world’s leading energy monitor has issued a disturbing downward revision of the oil industry’s ability to keep pace with soaring demand.
Yesterday’s warning from the International Energy Agency sent the price of a barrel of oil to a new record for the 13th day in a row. The latest high - $135 for a barrel of light sweet crude - was reached in New York barely five months after the price hit $100. Experts in London and on Wall Street predict that prices will rise to $200, regardless of the protests of consumers and the complaints of politicians. It is simple economics, they say: supply and demand. The former is short, the latter growing.

Peak Oil - a phrase more should hear about - and more politicos pay attention to.