One is compelled to pull out that old chestnut, "There he goes again." The personage of a Saudi oil spokesman entertaining us to one of his seminal dissertations, expounding on Saudi Arabia's concerns for the well being of all mankind.
Should Europe cut off imports of Iranian oil, as they already have with Syrian oil in solidarity with the Syrian people's suffering under its current murderous rulers, the impact on the oil market would be minimal.
How many electronic devices do you have in your home? How many televisions, computers, iPods, video games, and telephones do you use on a daily basis? Today I am reintroducing the Smart Electronics Act.
While the International Energy Agency is warning oil producing countries to increase output to safeguard the fragile global economic recovery, Iran's Mahmoud Ahmadinejad has just declared himself to be that countries OPEC representative.
Commentators today are repeatedly referring to the level of oil reserves held by the Libyan oil fields, projecting concerns that these reserves are in danger of being cut off from the world market. That concern is spurious to say the least.