$250 oil forecast by Gazprom gains credibility « Peter J. Cooper’s Weblog

I have to conclude that blaming higher oil prices on speculators and the Fed’s lose money is a part of the explanation for higher oil prices, but perhaps not quite the whole story. The latest statistics from BP tell a story of supply and demand that no government can control, and leave Gazprom’s $250 per barrel forecast looking far more credible.