More to Greenspans point that there has been a fundamental change - TopicsExpress

More to Greenspans point that there has been a fundamental change in oil markets and pricing. Having seen numerous fluctuations in the energy markets over the years, many analysts and policy makers have a natural tendency to “look through” the latest drop in oil prices -- that is, to treat the impact as transient rather than as signaling long-term changes. I suspect that view would be a mistake this time around. The world is experiencing much more than a temporary dip in oil prices. Because of a change in the supply model, this is a fundamental shift that will likely have long-lasting effects. ow.ly/GNGZ0

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