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Sunday, March 18, 2012

What's Behind Rising Gas Prices? by Daniel Yergin, Wall Street Journal

What's Behind Rising Gas Prices?

Daniel Yergin, Wall Street Journal
As in the 2008 presidential election; remember the chants of "Drill, baby, drill!" and; rising oil and gasoline prices have become an issue in 2012. But election-year politics aside, the forces driving up prices at the pump are very different today than they were four years ago. In 2008, it was primarily the surge in oil consumption in emerging markets, disruptions, and a belief that the world was running short of oil (the so-called peak oil crisis). . .

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