CNN: Oil Prices Are Too High

It’s not news to most Americans, but CNN columnist Paul R. La Monica
today wrote that oil prices are too high.

La Monica stopped just short of blaming speculators, but did make it
clear that many analysts and oil CEOs believe that Saudi Arabia has
plenty of excess capacity to more than make up for any problems with
Libyan supply.

He also doubted that the uprisings in the Middle East-North Africa (NEMA)
region will spread to Saudi Arabia or Iran.

But energy analysts like Gregor Macdonald noted the opposite likelihood

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