IEA Warns of Potential Supply Shortage

Oil is trading higher once again this morning to record highs.  Today's rise is being attributed in part to comments made from the International Energy Agency.  As the Journal reported, "The world's premier energy monitor is preparing a sharp downward revision of its oil-supply forecast, a shift that reflects deepening pessimism over whether oil companies can keep abreast of booming demand."

The world's premier energy monitor is just beginning to consider the possibility of oil supply not being able to meet future demand?  What do you think tipped them off?  Was it oil's 105% gain over the last year?  Or do you think they just happened to see CNBC's interview with Boone Pickens on Tuesday?

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