Oil is traded on a global market, yes? How would rerouting oil from Europe to China change prices?
If we were talking about gas (like in Gazprom) I would understand what this is all about, but oil?
What do they mean? Peak oil is not an energy crisis. It is a liquid fuel crisis.
Maybe we should rename the FT the FudT. tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
