With demand from China and India far higher than it was several years ago when prices hit $147 a barrel, and supply being more constrained, we will be wishing we had not ignored our wake-up call on energy development. Putting our energy resources out of reach of development here in the US was a strategic error of unprecedented magnitude. States need to exercise sovereignty over the resources within their borders for the sake of their citizens.

Oil could hit $220 a barrel on Libya and Algeria fears, warns Nomura – Telegraph:  www.telegraph.co.uk/finance/financetopics/oilprice….html

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