Cycles of shortage and surplus characterize the entire history of oil.

This is not the first time that the world has 'run out of oil. It's more like the fifth. Cycles of shortage and surplus characterize the entire history of the oil industry.

Depending on what we learn in the next few days, this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning,

Depending on what we learn in the next few days this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning.

Depending on what we learn in the next few days, this may be the biggest oil-supply shock since the 1970s. We are now in the days of reckoning.

All the tensions and stress in the world's oil markets are flowing into the gasoline pump. The crude oil market is very tight, and a market that's this tight is vulnerable to politics, to hurricanes, to strikes and to emotions, and that's what we're seeing.