By Dan Shapley
A Tight Supply Hints At Energy Future
There's nothing funny about high gasoline prices, and prices are going to be inching -- or leaping -- again, as the price of crude oil continues to climb amid unrest in Nigeria and other geopolitical and supply problems. If you listen to the policy wonks predicting the future, you can expect prices like we see to stay this high or climb higher in the future, as oil supplies dwindle relative to demand, and regulations aimed at jump-starting a low-carbon economy lead to short-term price spikes. It's a messy process transforming society to meet the challenges posed by foreign oil dependence and global climate change. The price at the pump will be one of many indicators that will hit home.