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Hello Rupert.....where are you?

Remember Rupert Murdoch - the man far too many people give credibility to - telling the world that the invasion of Iraq would see the cost of oil go down to US$20 a barrel?

It hasn't happened, yet, and if today's reports are anything to go by, won't for a long time, if ever [as reported in the SMH here]

"Record petrol prices are inevitable with global oil demand outstripping supply over the next 5 years leading to a supply crunch, the International Energy Agency said.

In its Medium-Term Oil Market Report, the adviser to 26 industrialised countries said demand will rise by an average 2.2 percent a year between 2007 and 2012, up from a previous medium-term forecast of 2 percent.

The outlook, which updates an IEA forecast last issued in February, coincides with a jump in oil prices to $US76 a barrel, closing in on a record high near $US79, on concerns of a tightening market."

So, er where are you Sun King on this latest pronouncement? Too busy trying to secure another newspaper or media outlet which can then peddle the Murdoch-line of nonsense.

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