Middle East Economic Survey
VOL. XLVIII
No 40
3-October-2005
A Market In Levitation: How Long Can It Last?
By Nordine Ait-Laoussine
The following paper was presented by Nordine Ait-Laoussine, President of the Geneva-based consulting firm Nalcosa and former Energy Minister of Algeria, to the 27th Oxford Energy Seminar on 15 September.
Introduction
I use the term levitation in the title to mean that current oil prices are above the equilibrium justified by normal supply and demand considerations or...
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