Middle East Economic Survey

VOL. LIV

No 12

21-Mar-2011

OIL PRICES

Are Oil Prices Inviting Price Controls?

By William R Edwards

The following article was written for MEES by Mr Edwards, who is President of Edwards Energy Consultants, Katy, Texas (wre@texven.com).

The current oil price disruption is not a supply problem. It is a psychological problem. All competent assessments agree that sufficient spare producing capacity exists to cover any loss of production from producers affected by...