There is no oil shortage, not yet at least. That doesn’t mean we’re not quickly sliding towards Peak Oil. We probably are, but that has nothing to do with today’s gas prices. The reason oil has skyrocketed to nearly $140 per barrel is because of speculation, rampant, “unregulated” speculation. The peak oil doomsayers are simply … Continue reading Gas Pump Gouging: Don’t Blame the Saudis