OMG!

Finally!! This just hit the various news services:

“Crude-oil prices are being driven higher by ``market fundamentals,'' said Guy Caruso, head of the U.S. government's Energy Information Administration.

Rising demand coupled with ``insufficient'' investment, lack of access to resource bases in the U.S. and elsewhere, and a ``dramatic rise in the cost of doing business'' are boosting prices, Caruso told reporters today at a briefing in Washington.

``We think we're in a different era with relatively higher real oil prices going out through 2030,'' he said. The Energy Information Administration is the statistical arm of the U.S. Energy Department." Bloomberg news, 11.12.07

This is the first report that I have seen in which a member of the energy establishment linked current crude prices with fundamentals. I guess he figured better now than at $150 per barrel.

It would now appear that Daniel Yergin of Cambridge Energy Research Associates and the Energy Information Administration are no longer working together on the propaganda effort.

Mentatt (at) yahoo (d0t) com