“Even now the market is well supplied. New fields are being discovered. There are new areas where sources are being developed. The sources of supply are spreading and this will change the politics of oil.”-Aldo Flores- Quiroga, IEF Secretary General

One more authoritarian voice joins in to say there is not a lack of oil, oil prices are only going up because of those damn speculators!

Well not just because of the speculators.  Officials with the International Energy Forum, also said that the oil industry needs new investments, and big profits, in order to exploit the new sources of oil, to the tune of $700 billion every year!

Last week the CEO of Exxon Mobil said the same thing, that there was plenty of oil in the pipeline, but he did directly blame the speculators on the high prices.