>SNIP
>>Where outside of the US is it prohibited from increasing supply?
>>
>>Has demand grown 40% this year?
>
>So much for supply and demand:
>
>As expected, the IEA cut slightly its forecast for annual oil demand growth, but surprised the market with a deep reduction in its forecast for supply growth from non-Opec nations, leaving the world more dependent on the producers' cartel.
>
>http://money.ninemsn.com.au/article.aspx?id=577986

Where do you see suplly and demand rules broken ? Base your assumption on limieted resources
and the current price is actually LOW if seen as percentage of alternate energy replacement.
So "hoarding" comes into play (price increases > tenfold of usual price are often seen after
after natural disasters) as the suppliers realize that they are selling a non-replaceble resource
clearly under value.