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Record price for crude oil

Neither speculation on the energy market nor "geopolitical distortions" were primarily responsible for pushing oil prices sky high, says Manfred Kriener. "Oil providers are having trouble keeping up with rising demand. This assessment is now also shared by the conservative International Energy Agency, the most important energy address for states in the OECD. ... It's high time to pronounce a word that economists avoid the way the devil avoids evening prayers: 'Finiteness!'... Delivery cannot be increased arbitrarily. It stands close to its high-point – the infamous peak – and it will drop after 2010. The world is not prepared for this eventuality. Oil prices will climb to 200 dollars - a number that seems just as inconceivable to us today as 100 dollars seemed twelve months ago. "

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