Most oil market commentary still makes it sound as if high prices are a passing phenomenon. But the markets are smelling something different. The problem is not a lack of oil in the world. The problem is getting the oil to refineries and then to market. Many arguments in Washington have been irrelevant. A shortage of oil is not the biggest problem. The reality is becoming clear because of Iraq, but Iraq was not the cause, and diplomacy will not make it go away. High Oil Prices May Not Be Temporary | 
