That article makes sense, unlike the blame it on speculators stupidity. I've been thinking about something related to this, althought its the first time I've seen an article specifically on exports. With very high energy prices, energy rich countries like Saudi Arabia can completely dominate a range of energy intensive industries. examples like aluminium and chemicals come to mind, and they are now pumping in huge investment into these industries. Why would they ever want to export cheap oil again? It becomes very strategic for them to keep prices high.
