It's Official: The Era Of Cheap Oil Is Over

by Michael T. Klare from Countercurrents 12 June 2009 Every summer, the Energy Information Administration (EIA) of the U.S. Department of Energy issues its International Energy Outlook (IEO) - a jam-packed compendium of data and analysis on the evolving world energy equation. For those with the background to interpret its key statistical findings, the release of the IEO can provide a unique opportunity to gauge important shifts in global energy trends, much as reports of routine Communist Party functions in the party journal Pravda once provided America's Kremlin watchers with insights into changes in the Soviet Union's top leadership circle. Continue at http://www.countercurrents.org/klare120609.htm See also Oil price leaps to year's high