‘Expensive Energy Is Back:’ Why the World Should Prepare for Higher Prices Even Though There’s Plenty of Oil

Energy prices may soon rise, but not for anything to do with Peak Oil--the theory that production will soon reach a peak and begin to fall--the International Energy Agency (IEA) predicts in its Oil Market Report released Friday.

Overall supply has actually grown to record highs of over 100 million barrels a day thanks to a mix of factors such as the American shale boom and more production in Libya and Nigeria.

Several other factors suggest that prices should fall: The EIA is revising its...

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