Look, it depresses me as much as it depresses you but oil may reach $170 a barrel before the bubble bursts.
Now, everyone has their own idea about how this may happen. Perhaps the oil fairy will magically boost OPEC production by 3,000% or the elusive Iraq reserve will come on line justifying, at least in the minds of our Great Leaders, the years of war.
Equally everyone has their own idea how this crisis came to pass. Speculation, extra demand from emerging economies, the threat of Ronaldo signing for Madrid.
I can, however, give you one indisputable contributory factor.
Here in Britain there was not a close enough watch kept on how much we had left.
This is because Britain’s oil is in the North Sea and the dipsticks are in Parliament.
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