Yes, the world still has plenty of oil, but ...

Market fears of an unstable Middle East and a growing futures market mean the cost will keep rising

“Let’s get this straight: At the moment, the U.S. has plenty of oil.

Let’s get another thing straight: The price of oil is likely to keep rising because of market psychology and buyer panic about Mideast turmoil. And there’s nothing you can do about it.” FULL STORY